Schellenberg Wittmer advised Santhera Pharmaceuticals Holding AG on the sale of its Raxone®/idebenone business for all indications worldwide to Chiesi Farmaceutici S.p.A. The transaction replaces the existing license agreement between the two companies entered into in 2019.
Under the terms of the acquisition agreement, Chiesi acquired all assets and certain liabilities related to idebenone in all indications worldwide, including Raxone in LHON, for which Chiesi already held exclusive license rights globally since 2019, except for North America and France. As consideration, Chiesi will assume the responsibility for the settlement agreed between Santhera and the French reimbursement authorities relating to Raxone in LHON amounting to approx. EUR 25,300,000.
The team of Schellenberg Wittmer consisted of Pascal Hubli (Corporate/M&A), Philipp Groz (IP/Life Sciences) as well as Elia Schunck (Corporate/M&A).