Synimmune GmbH sold to Veraxa Biotech AG

Synimmune GmbH, a German biotech company dedicated to the development of innovative anti-tumor antibodies was sold to Veraxa Biotech AG, a portfolio company of SIX-listed Xlife sciences AG (XLS) in a share-for-share transaction with a transaction value of up to EUR 32 million, including milestone consideration. Synimmune is developing an innovative phase I antibody for the treatment of acute myeloid leukemia (AML), one of the most common types of acute leukemia in adults. With the acquisition, Veraxa expands its pipeline of innovative antibodies and antibody-drug conjugates (ADCs).

Lenz & Staehelin advised the German Kreditanstalt für Wiederaufbau (KfW), an investor in Synimmune and selling shareholder in this transaction. The team was led by Matthias Wolf and included Rebecca Khan and Jérémie Bongiovanni (all Corporate, M&A).