based on这个过去分词短语应该移至句末，作his novel的非限制性定语。

He wrote a novel, based on his own experience.

Based on his own experience, his novel was successful. 这个句子也是正确的。

但是，Basing on his own experience, he wrote a novel.则为错句。因为 base的句型为 base A on B. 即base...on... 这个短语动词为及物动词+介词构成的，base 和 on都需要后接名词。你的basing后没有名词作宾语，为错误。