BASEL, Switzerland, March 28, 2006 (PRIMEZONE) -- Basilea's (SWX:BSLN) shareholders approved today the annual report, the 2005 financial statements, as well as the release of the members of the Board of Directors and management. Shareholders also approved certain releases from reserves. In addition, shareholders re-elected Dr. Walter Fuhrer, Dr. Gottlieb Keller, Prof. Daniel Lew and Prof. Peter van Brummelen as members of the Board of Directors for a two-year term. PricewaterhouseCoopers AG, Basel, was re-elected as statutory auditor and group auditor for the business year 2006.
The Annual General Meeting was attended by shareholders who represented 49.2% of the total share capital of the Company.
In his presentation to shareholders, Anthony Man, MD, Basilea's CEO, commented, "We are delighted to report upon another successful year of achievements while advancing our clinical development products closer to the market. Basilea's consistency in operational excellence and its continued achievement of clinical milestones were rewarded by a significant increase in share value. We now have three compounds in late stage development that address high medical needs and that have positive phase II or III clinical data. This year we look forward to news on the initiation of our antifungal, BAL8557 phase III trails, anticipate phase III results on alitretinoin and further publications on our first phase III ceftobiprole study data."
In the recent months, Basilea announced major milestones supporting the company's future growth including:
-- Ceftobiprole (BAL5788), a novel broad-spectrum anti-MRSA cephalosporin antibiotic showed excellent phase III study results in a first of an ongoing series of pivotal trials designed to indicate the activity and safety of the drug in patients with serious infections.
-- Alitretinoin (BAL4079), a convenient once daily oral product developed to treat patients with chronic hand eczema, recruited by year-end more than seventy-five percent of patients in an international phase III registration trail. Currently more that 90% of patients have been recruited in this trial. There are no approved treatment options at this time available to patients who suffer from this disease and who do not benefit from topical treatment.
-- BAL8557, a novel broad-spectrum water-soluble azole, developed to treat patients in hospital with serious invasive fungal infections, successfully completed phase II and is planned to enter phase III in the second half of 2006.
About Basilea
Basilea Pharmaceutica Ltd. (BSLN) is an independent biopharmaceutical company headquartered in Basel, Switzerland, and listed on the SWX Swiss Exchange. Basilea's fully integrated research and development operations are currently focused on new antibacterial and antifungal agents to fight drug resistance in the hospital market and on the development of dermatology drugs. Basilea's products are targeted to satisfy high medical and patient needs in the hospital setting. The company owns a diversified product portfolio including three products for severe medical indications in late stages of clinical development.
Disclaimer
This communication expressly or implicitly contains certain forward-looking statements concerning Basilea Pharmaceutica Ltd. and its business. Such statements involve certain known and unknown risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of Basilea Pharmaceutica Ltd. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica Ltd. is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
The press release can be downloaded from www.basilea.com
The press release can also be downloaded from the following link: http://hugin.info/134390/R/1041752/169781.pdf