Basilea Sells Microtubule Drug Rights to Glioblastoma Foundation

Basilea has entered into an asset purchase agreement with the Glioblastoma Foundation for lisavanbulin (BAL101553), a drug candidate for glioblastoma. According to the terms of the agreement, Basilea will transfer all rights of lisavanbulin to the foundation for an initial undisclosed payment. Basilea will also maintain a fixed double-digit percentage stake in any future commercial partnerships. The Glioblastoma Foundation will take over the post-access trial program for lisavanbulin, ensuring that patients who participated in earlier clinical trials can continue receiving the drug. Additionally, the foundation will be responsible for any further clinical trials of lisavanbulin in treating glioblastoma.

Lisavanbulin functions as a checkpoint inhibitor, binding to tubulin to disrupt the cell cycle and induce cancer cell death. The drug was in development for treating brain cancer, and it received orphan drug designation from the US Food and Drug Administration in 2021 for malignant glioma, a type of brain cancer. Despite initial promise, Basilea decided not to expand the glioblastoma patient cohort for lisavanbulin after disappointing results from a Phase I/II trial (NCT02490800). In this open-label study, only one out of nine patients with measurable disease showed a partial response, and another patient had a 44% reduction in the target lesion area. Despite these responses, the study did not meet the criteria needed for progression to the next phase, leading to its early termination.

Glioblastomas are aggressive brain tumors often treated with surgery, radiotherapy, and chemotherapy. They account for approximately 14% of all primary brain tumors, with around 12,000 new cases diagnosed annually in the United States, according to the American Brain Tumor Association.

Dr. Gita Kwatra, CEO of the Glioblastoma Foundation, expressed optimism about lisavanbulin's potential. In a press release dated June 20, she stated, "We strongly believe that lisavanbulin will be effective in a subset of glioblastoma patients and we are looking forward to initiating clinical trials of lisavanbulin in the US."

This transaction marks Basilea's second publicly announced deal in 2024. Earlier in January, the company signed an agreement with Spexis to acquire its preclinical antibiotics program. Prior to this, in October 2023, Basilea sought a partner for its antibiotic ceftobiprole.