POELLATH advises Eckert & Ziegler AG on the acquisition of a majority stake in the drug developer PENTIXAPHARM
Eckert & Ziegler Strahlen- und Medizintechnik AG, a specialist in isotope technology applications in medicine, science and industry, has purchased approximately 83% of the shares in the drug developer PENTIXAPHARM GmbH, Würzburg, from the founders and another shareholder for a total purchase price of approximately EUR 30 million in several share packages.
The purchase price is to be paid largely by transfering treasury shares in Eckert & Ziegler Strahlen- und Medizintechnik AG, which will then be subject to lock-up until the date of the expected approval of the phase III clinical trial for the lead product Pentixafor. The management of PENTIXAPHARM will retain the remaining 17% of the shares by granting of put options.
PENTIXAPHARM is developing a radiopharmaceutical combination product for lymphoma and a number of related tumors. Recently, PENTIXAPHARM recently received the green light from the European Medicines Agency (EMA) for advanced clinical trials for approval of its lead candidate, Pentixafor. Eckert & Ziegler Strahlen- und Medizintechnik AG intends to support this process, which will take about three years, by making further investments in the company.
POELLATH advised Eckert & Ziegler Strahlen- und Medizintechnik AG on the acquisition of the majority shareholding in PENTIXAPHARM GmbH and also provided capital markets law support for the transaction.
Eckert & Ziegler Strahlen- und Medizintechnik AG, founded in 1997 and based in Berlin, is one of the world’s largest suppliers of isotope technology components for nuclear medicine and radiation therapy with over 800 employees. The company offers services for radiopharmaceuticals at various locations, from early development to commercialization. Eckert & Ziegler shares (ISIN DE0005659700) are listed on the TecDAX index of the German Stock Exchange.
POELLATH advised with the following team: