Basilea enters into sale and leaseback agreement for corporate headquarters building
Basel, Switzerland, June 23, 2020
Basilea Pharmaceutica Ltd. (SIX: BSLN) today announced that it has entered into a sale and leaseback agreement for its corporate headquarters in Basel, with the Pension Fund of UBS. Gross proceeds from the sale, before customary fees and transaction costs, amount to around CHF 19 million. Basilea will leaseback the building and does not plan on any other organizational changes related to this transaction. CBRE (NYSE: CBRE) represented Basilea as sell-side advisors.
David Veitch, Chief Executive Officer of Basilea, said: “This transaction is an important strategic step for Basilea and a result of our continuous efforts to optimize our business. It significantly increases our financial and operational flexibility, and allows us to move forward with our mid-term plan of bringing all our employees, currently working at different locations across Basel, together at a new location in the area. The transaction allows us to further focus on our core business; the discovery, development and commercialization of treatments for patients with cancer or with fungal and bacterial infections.”
Basilea Pharmaceutica Ltd. is a commercial-stage biopharmaceutical company, focused on the development of products that address the medical challenges in the therapeutic areas of oncology and infectious diseases. With two commercialized drugs, the company is committed to discovering, developing and commercializing 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.
This communication expressly or implicitly contains certain forward-looking statements, such as "beleve", "assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions concerning Basilea Pharmaceutica Ltd. and its business, including with respect to the progress, timing and completion of research, development and clinical studies for product candidates. 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.
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