AC Immune SA (NASDAQ: ACIU), a clinical-stage biopharmaceutical company pioneering precision medicine for neurodegenerative diseases based in Lausanne, Switzerland, yesterday announced that it is acquiring Vienna-based Affiris AG’s portfolio of therapeutics targeting alpha-synuclein (a-syn), notably Affiris PD01, a clinically-validated active vaccine candidate for the treatment of Parkinson’s disease, as well as cash. The all-stock asset acquisition is valued at USD 58.7 million.
AC Immune is acquiring all of Affiris’ assets and underlying intellectual property related to active vaccine candidates targeting a-syn 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 23 July 2021.
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.
The acquisition is subject to customary regulatory approval in Austria and expected to complete at the beginning of Q4 2021.
Bär & Karrer (Rolf Watter and Vera Naegeli) has acted as lead counsel and BRANDL TALOS has acted as Austrian counsel for AC Immune. The BT deal team was led by Roman Rericha and Stephan Strass and further included Christina Bernhart and Elena Ciresa (both Corporate/M&A), Alexander Stücklberger (Employment) and Raphael Toman (Regulatory). Davis Polk Wardwell LLC, New York, acted as U.S. deal counsel for AC Immune.