Altana Advises Onxeo in the Divestment of Two Non-Core Oral Pathology Products to Vectans Pharma

Paris, 22 August 2017

Altana advised Onxeo S.A. (Euronext Paris, NASDAQ Copenhagen: ONXEO), a biotechnology laboratory specializing in the development of innovative drugs for the treatment of orphan diseases, in the divestment of two historic products: Sitavig® (labial herpes) and Loramyc® (oropharyngeal candidiasis), to Vectans Pharma, a private laboratory  that develops and commercializes drugs for oral pathologies.

Sitavig® and Loramyc® are the first two products developed and registered in Europe and the US by Onxeo’s R&D teams. They are currently licensed to several international distributors or are awaiting market authorization in several key countries.

Onxeo divested to Vectans Pharma all assets relating to the two products (notably patents, regulatory authorizations and outstanding contracts) for an upfront payment of €4 million. The agreement also contains a provision for a potential earn-out payment based on the cumulated worldwide commercial performance of the products. Onxeo will also receive, from its existing partners, most of the expected milestone payments related to predefined regulatory or commercial performance benchmarks.

This operation demonstrates the strategic transformation initiated a few years ago by Onxeo in its aim to become a worldwide leader and pioneer in the rare and orphan cancer sector.

Counsel Onxeo

Altana: Jean-Nicolas Soret (Partner), Fabien Pouchot (Counsel) and Vincent Guilaine (Associate).

Counsel Vectan Pharma

Almain: Edgard Nguyen (Partner).

About Altana

Altana is an independent Paris-based business law firm of 80 lawyers with multi-disciplinary teams offering a combination of transactional and litigation expertise in the following areas:

Arbitration/Mediation, Competition/Distribution, Construction & Real Estate Law, Corporate/M&A, Criminal Law, Employment, Insurance, Intellectual and Digital Property , Litigation, Public Economic Law and Restructuring.

All 80 lawyers, including 22 partners, share the common values of entrepreneurial spirit, independence, commitment, international perspective, lasting and privileged client relations, effective involvement by the partners in each case, pragmatic and innovative solutions.

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