AFFiRiS AG, advised by E+H, acquires shares in the listed company AC Immune SA
AFFiRiS AG has sold its entire portfolio of anti-alpha-synclein immunotherapies to AC Immune SA in exchange for shares in AC Immune SA. AFFiRiS AG, advised by E+H, is an Austrian biotechnology company developing vaccines for the treatment of neurodegenerative and cardiometabolic diseases such as Parkinson’s disease and hypercholesterolemia. AC Immune SA (NASDAQ: ACIU) is a Swiss biopharmaceutical company. The total value of the equity-based acquisition is $58.7 million.
AFFiRiS AG engaged E+H for this deal, as in the past. Ashurst (Lloyd Harmetz, US law) and MLL Meyerlustenberger Lachenal (Andrea Sieber, Swiss aspects) were on board as E+H local counsel. The transaction involved structuring an asset deal to transfer the assets from AFFiRiS AG to AC Immune SA, the subscription of shares in the listed AC Immune SA, and the financing of AFFiRiS AG by its shareholders. Under the terms of the transaction, AFFiRiS AG will sell all of the assets and related intellectual property of AFFiRiS AG associated with its portfolio of anti-alpha-synclein immunotherapies in exchange for shares valued at $58.7 million in NASDAQ-listed AC Immune SA. The portfolio transferred by AFFiRiS AG includes the PD01 vaccine against Parkinson’s disease, which recently showed promising results in a Phase 1 trial. Also involved in the transaction are various well-known shareholders of AFFiRiS AG, such as MIG funds, the Strüngmann family’s Athos Service GmbH, and First Capital Partner GmbH, which are lead investors in COVID-19 vaccine manufacturer BioNTech.
With the support of its new shareholders, experienced in active vaccines, AC Immune SA will test an optimized version of the PD01 vaccine against Parkinson’s disease in a biomarker-based Phase 2 trial.
“As long-time investors in AFFiRiS, we are confident that AFFiRiS’ active immunotherapy program will positively complement AC Immune’s portfolio of transformative therapies by enabling much-needed patient-friendly, highly innovative disease-modifying therapies for patients suffering from neurodegenerative diseases,” added Michael Motschmann, Chairman of AFFiRiS’ Supervisory Board and General Partner of MIG AG, one of AFFiRiS’ founding investors.
“We are pleased that AC Immune SA will continue to advance our anti-alpha-synuclein vaccine candidate PD01. In light of our promising published data from Phase 1 clinical trials in Parkinson’s disease and multiple system atrophy (MSA), as well as preclinical proof-of-principle data in dementia with Lewy bodies (DLB), now is the right time to generate value from these projects through an asset deal “, stated Noel Barrett, PhD, CEO of AFFiRiS AG. “Many thanks for the fantastic support to the entire E+H team, especially Marco Steiner and Johannes Feilmair.”
Advisors to AFFiRiS AG:
E+H (Eisenberger + Herzog Rechtsanwalts GmbH) (Lead Counsel)
Marco Steiner, LL.M. (partner, corporate law), Johannes Feilmair, LL.M. (attorney, corporate law), Fabian Larcher (associate, corporate law), Judith Feldner (partner, antitrust law), Agnieszka Blonska (associate, antitrust law)
MLL-legal (Local Counsel Switzerland)
Andrea Sieber, LL. M. (partner, corporate law), Philipp Falk (attorney, corporate law)
Ashurst (Local Counsel USA)
LIoyd Harmetz (partner, New York office)
About AFFiRiS AG:
AFFiRiS is a clinical-stage biotechnology company based in Vienna, Austria, that aims to use its patented AFFITOME® technology to identify human proteins via the immune system that play a key role in the development and progression of neurodegenerative and cardiometabolic diseases. The company’s goal is to improve the lives of patients suffering from these diseases by providing specific immunotherapies.