No, "based on" and "based from" are not interchangeable. Only "based on" is correct and acceptable; this phrasal verb is used to relate something to a circumstance, situation, or supposition, as in "Many successful movies are based on popular comics serials." It's not idiomatic at all to use "based from," and the use of this phrasal verb will normally be considered improper and incorrect by native English speakers.
Another correct and acceptable phrasal verb that uses the verb "based" is "based in." It is used to indicate the location or station of an entity, as in "The investment bank is based in Zurich, with branches in key cities in various parts of the world."
