Brandl Talos, working with Bar & Karrer, has advised AC Immune on the acquisition of Vienna-based Affiris AG’s portfolio of therapeutics targeting alpha-synuclein, a clinically-validated active vaccine candidate for the treatment of Parkinson’s disease. Davis Polk Wardwell acted as AC Immune’s U.S. legal counsel.
The all-stock asset acquisition is valued at USD 58.7 million and is still subject to regulatory approval.
According to Brandl & Talos, “AC Immune is acquiring all of Affiris’ assets and underlying intellectual property related to active vaccine candidates targeting alpha-synuclein and USD 5 million in cash for 7.1 million shares based on a price of USD 8.26 per common share of AC Immune. This share price represents a 10.7% premium compared to the closing price of AC Immune shares as of July 23, 2021.” According to the firm, “concurrent with the asset acquisition, AC Immune’s cash position, as well as its investor base, is also being strengthened by a total of USD 30 million in gross proceeds stemming from the asset acquisition and a parallel private placement transaction with a select group of investors that are adding Athos Service GmbH, First Capital Partner GmbH and MIG Fonds, the lead investors in Covid-19 vaccine innovator BioNTech SE, as new AC Immune shareholders.”
Bar & Karrer’s team included Partner Rolf Watter and Associate Vera Naegeli.
Brandl & Talos’ team included Partner Roman Rericha, Attorneys Stephan Strass, Alexander Stucklberger, and Raphael Toman, and Associates Christina Bernhart and Elena Ciresa.
Brandl & Talos did not reply to our inquiry on the deal.
Editorial Note: After this article was published, Eisenberger + Herzog announced it acted as the lead counsel to Affiris. It's team consisted of Partners Marco Steiner and Judith Feldner, Attorney Johannes Feilmair, and Associates Fabian Larcher and Agnoeszka Blonska. MLL-Legal's Partner Andrea Sieber and Attorney Philipp Falk acted as local Swiss counsel and Lloyd Harmetz, Partner at Ashurst, acted as US counsel.
