Basilea Pharmaceutica, a spin-off from Switzerland pharmaceutical company Roche, has sold eczema drug Toctino to Stiefel, part of GlaxoSmithKline for £146m ($228.4m) upfront payments and up to £50m in milestone payments.

Basilea was founded in 2000 as a spin from Swiss pharmaceutical group Roche and it went public on the SIX Swiss Exchange in 2004.

According to news provider Bloomberg, Roche retained a stake in Basilea after it spun-off from the company. Bloomberg quoted , Basilea’s chief financial officer Ron Scott, as saying in 2010: "Roche was very smart in the way it established Basile. Roche was able to recoup its significant investment in therapeutic areas, which were no longer its primary focus."

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?