Berlin — The Chinese company Sino Biopharmaceutical Limited is buying Softhale NV. Softhale is a privately held Belgian company focused on the development of products for the treatment of respiratory diseases. Its next-generation Soft Mist Inhalation (“SMI”) device is based on differentiated technology and enables more efficient drug deposition in the lungs.
The transaction volume is USD 110 million and additional payments related to regulatory and commercial milestones.
An international team of Baker McKenzie lawyers provided comprehensive advice to Sino Biopharmaceutical Limited on all legal and regulatory aspects of the transaction, with the agreement governed by German law. The M&A negotiations were led by Dr. Thorsten Seidel in Berlin. The due diligence on the Belgian company was led by Baker McKenzie Brussels under the leadership of Dominique Maes.
“With the successful closing of the transaction, we were able to support our client in the implementation of its growth strategy. With this acquisition, our client gains a strategic hub in Europe on its way to becoming a major developer of innovative respiratory products for China and the global market,” commented Dr. Thorsten Seidel, Partner Baker McKenzie.
Sino Biopharmaceutical, together with its subsidiaries, is a leading innovative research and development (“R&D”) focused pharmaceutical conglomerate in China. Sino Biopharmaceutical’s business comprises a fully integrated chain of pharmaceutical products that includes a number of innovative R&D platforms and pipelines, a range of smart manufacturing facilities, and a strong distribution infrastructure.
Softhale is a Belgian pharmaceutical company specializing in the development of SMI (Soft Mist Inhalation) devices (vapor inhalers) and related pharmaceutical products for the delivery of drugs to the lungs.
Baker McKenzie’s global Corporate/M&A team advises on more cross-border transactions than any other law firm. Most recently, Baker McKenzie advised Paragon on the sale of NovumIP to Questel Group, TA Associates on the acquisition of a majority stake in IGEL, Embracer on the acquisition of Easybrain Limited, SK Telecom on a joint venture with Deutsche Telekom, Chr. Hansen Holding A/S in its acquisition of Jennewein Biotechnologie GmbH, DBAG in an investment in congatec Holding AG, SAP in the sale of its SAP Digital Interconnect communications unit to Sinch AB, Air Liquide in the sale of the Schülke Group to Swedish financial investor EQT, METRO AG in the sale of its China business and the establishment of a strategic partnership with Wumei, Bayer AG in the sale of its majority stake in chemical park operator Currenta, and Evonik in the sale of its methacrylates group to Advent International.
Legal advisor Sino Biopharmaceutical Limited: Baker McKenzie
Lead: Corporate/M&A: Dr. Thorsten Seidel (Partner, Berlin)
Other lawyers involved: Corporate/M&A: Dominique Maes (Partner, Brussels), Kim Stas (Counsel, Brussels), Derek Poon (Partner, Hong Kong), Bruno Schroé (Associate, Brussels), Holger Engelkamp (Counsel, Berlin)
Employment: Dr. Matthias Köhler (Partner, Berlin), Tatjana Serbina (Associate, Berlin)
IP: Dr. Rembert Niebel (Partner, Frankfurt)
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