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Basilea shareholders approve all resolutions proposed by the Board of Directors at the Ordinary General Meeting of Shareholders

Basel, Switzerland, April 29, 2015 (GLOBE NEWSWIRE) -- Basel, Switzerland, April 29, 2015 - Basilea Pharmaceutica Ltd. (SIX: BSLN) reported that at today's Ordinary General Meeting of Shareholders for the financial year 2014, shareholders approved all agenda items proposed by the Board of Directors. At the meeting, 45.3 percent of Basilea's share capital was represented.

The shareholders approved the annual report, the financial statements and consolidated financial statements for the business year 2014, and approved the release of the members of Basilea's Board of Directors and Management Committee. Shareholders also approved carrying forward the accumulated deficit and re-elected PricewaterhouseCoopers AG, Basel as Statutory Auditors for the audit of the stand-alone and consolidated financial statements for the business year 2015.

All current members of Basilea's Board of Directors were re-elected: Dr. Martin Nicklasson, Domenico Scala, Hans-Beat Gürtler, Prof. Daniel Lew, Dr. Thomas M. Rinderknecht, Steven D. Skolsky and Dr. Thomas Werner. Dr. Nicklasson was re-elected as the Chairman of the Board of Directors. The shareholders also re-elected Dr. Nicklasson, Mr. Skolsky and Dr. Werner as members of the Compensation Committee. Dr. Caroline Cron was elected as Independent Voting Rights Representative. The terms of all these individuals last until the end of the 2016 Ordinary General Meeting of Shareholders.

The shareholders also approved the increase of the conditional share capital.

Finally, the shareholders approved the proposed maximum aggregate amounts for the compensation of the Board of Director for the period until the 2016 Ordinary General Meeting, the maximum aggregate amount of fixed compensation for the Management Committee for the period of 1 July, 2015 to June 30, 2016, and the maximum aggregate amount of variable compensation for the Management Committee for the period from January 1, 2015 to December 31, 2015.

In his presentation to the shareholders at the General Meeting, Chief Executive Officer Ronald Scott highlighted that the key company goals set for 2014 have been achieved. This included the submission of the European Marketing Authorization application for isavuconazole in July 2014, the isavuconazole U.S. submission by Basilea's partner Astellas and the launch of Basilea's antibiotic Zevtera® (ceftobiprole medocaril) in Germany.

First achievements in 2015 include the U.S. FDA approval of isavuconazole for the treatment of the severe fungal infections invasive aspergillosis and mucormycosis. Astellas has just launched the drug as CRESEMBA® (isavuconazonium sulfate) in the United States. Basilea recently launched Zevtera®/Mabelio® in France, Italy and the U.K. and strengthened its oncology portfolio by in-licensing panRAF kinase inhibitors for targeted cancer therapy.

CEO Ronald Scott said: "We are focused on achieving our further significant milestones in 2015 to bring the company closer to sustainable profitability. The European regulatory review of our isavuconazole Marketing Authorization Application is on track and we anticipate a decision in the fourth quarter of 2015. In preparation for a potential launch of isavuconazole in Europe early 2016 we have initiated pre-launch activities such as the preparation of market access dossiers. We are anticipating topline data from the ACTIVE phase 3 study with isavuconazole in invasive candidiasis in the second half of 2015. We also intend to establish Zevtera in key European markets throughout the year and establish distribution agreements in additional territories."

About Basilea

Basilea Pharmaceutica Ltd. is a biopharmaceutical company developing products that address increasing resistance and non-response to current treatment options in the therapeutic areas of bacterial infections, fungal infections and cancer. The company uses the integrated research, development and commercial operations of its subsidiary Basilea Pharmaceutica International Ltd. to develop and commercialize innovative pharmaceutical products to meet the medical needs of patients with serious and life-threatening conditions. Basilea Pharmaceutica Ltd. is headquartered in Basel, Switzerland and listed on the SIX Swiss Exchange (SIX: BSLN). Additional information can be found at Basilea's website www.basilea.com.

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.

For further information, please contact:

Media Relations Investor Relations
Peer Nils Schröder, PhD
Head Public Relations &
Corporate Communications
+41 61 606 1102
media_relations@basilea.com
Barbara Zink, PhD, MBA
Head Corporate Development

+41 61 606 1233
investor_relations@basilea.com

This press release can be downloaded from www.basilea.com.

Press release (PDF) http://hugin.info/134390/R/1916871/685566.pdf

HUG#1916871

Source:Basilea Pharmaceutica Ltd.