4 June 2019

Advice to Chiesi Farmaceutici on in-licence of Raxone® from Santhera

BianchiSchwald provided Chiesi Farmaceutici S.p.A. ("Chiesi") with Swiss law advice in relation to its in-licencing of Raxone®-- an orphan drug used in the treatment of Leber's hereditary optic neuropathy ("LHON"), a rare hereditary eye disease that leads to severe vision loss –- from Swiss group Santhera Pharmaceuticals Holding AG ("Santhera"). BianchiSchwald’s team comprised of Manuel Bianchi della Porta and Norbert Schenk acted alongside the international law firm Bird&Bird who served as the lead counsel to Chiesi in this transaction.”

Chiesi has in-licensed the rights to Raxone® in LHON and all other ophthalmological indications worldwide except in the US and Canada, where Santhera retains rights. Chiesi also has the option to acquire the Raxone® business following the satisfaction of certain regulatory milestones, including the completion of certain post-authorization measures and the receipt of certain pricing reimbursement approvals.  The total consideration for the deal is up to €93 million (approximately CHF 105 million), comprising an upfront cash payment of €44 million (approximately CHF 50 million) together with a number of sales related milestone payments of up to €49 million (approximately CHF 55 million). Closing of the transaction is subject to customary closing conditions including anti-trust approvals.