Spexis AG Announces Significant Developments Including Extended Moratorium and Strategic Licensing Changes

On April 17, 2024, Switzerland-based biopharmaceutical company Spexis AG disclosed several key updates pertaining to its operations and strategic plans. Firstly, the Western District Court of the Canton Basel-Landschaft has approved a four-month extension to Spexis' provisional moratorium. This extension reflects Spexis' ongoing efforts to restructure by possibly partnering or divesting non-essential programs and assets to secure additional funding.

In a strategic move to streamline its operations, Spexis has received a second tranche of payments amounting to CHF 2 million as part of a sale agreement for its preclinical outer membrane protein targeting antibiotics (OMPTAs) program aimed at treating multi-drug resistant Gram-negative bacteria. This deal, initially disclosed on January 15, 2024, with Basilea Pharmaceutica, involves three scheduled payments.

Additionally, the release highlights the conclusion of a licensing agreement with Santhera Pharmaceuticals concerning lonodelestat, an inhaled neutrophil elastase inhibitor originally developed by Spexis. Santhera's decision to terminate the agreement, which involved the worldwide rights to the drug, aligns with its focus on other assets, specifically vamorolone. As a result, all rights concerning lonodelestat, including existing data, will revert to Spexis after a transitional period.

CEO of Spexis, Jeff Wager, expressed optimism about these developments, noting they are pivotal to the company's strategy to emerge from moratorium. He emphasized the potential of lonodelestat to enhance Spexis' portfolio, particularly in rare respiratory diseases where the company has significant expertise and assets.