Basilea Pharmaceutica Ltd. announced that it has entered into a senior secured loan agreement with funds managed by Athyrium Capital Management, LP ("Athyrium"). The CHF 75 million senior secured loan will be used by Basilea for the repayment of its convertible bonds, which are due in December 2022 in an outstanding nominal amount of approximately CHF 117 million. The senior secured loan has a two-year term and repayment is expected to start as of first quarter of 2023 on a quarterly basis.

Interest payments, excluding fees, are expected to amount to an average of approximately CHF 1.25 million per quarter over the term. The transaction is subject to customary closing conditions.