Exit: SMP advises 1717 Life Science Ventures on sale of shares to Eckert & Ziegler
Berlin — SMP provided legal advice to 1717 Life Science Ventures on the sale of its stake in drug developer PENTIXAPHARM to Eckert & Ziegler Strahlen- und Medizintechnik AG. In the course of the transaction, Eckert & Ziegler acquired a direct majority stake in PENTIXAPHARM, a joint venture between Scintomics GmbH and 1717 Life Science Ventures GmbH.
With a solid history of building successful radiopharmaceutical startups, the 1717 team has personal experience in all key functions of an early-stage radiopharmaceutical development company. PENTIXAPHARM is developing a radiopharmaceutical combination product against lymphoma and a number of related tumors. Together with an internal transfer, Eckert & Ziegler says it will directly hold around 83% of the shares in the Würzburg-based company after the closing. The management of PENTIXAPHARM, which holds the remaining 17% of PENTIXAPHARM shares, also received put options on the remaining shares as part of the share sale. More information can be found here.
SMP had already advised on the establishment of the joint venture in 2019.
1717 LSV empowers scientists and investors to transform early stage radiopharmaceutical projects into attractive assets for licensing partners in industry.
About 1717 Life Science Ventures GmbH
By introducing early stage investors to promising new projects, 1717 LSV seeks to enable novel radiopharmaceutical therapies to traverse the early stages of manufacturing and clinical development.
We launched 1717 LSV in March 2018 to translate scientific results into patients benefits by filling the operational and financial gaps between the invention of radiopharmaceutical substances and their first clinical trials. We are focused, but not limited, to oncology indications to apply the full concept of Theranostics.
Advisor 1717 Life Science Ventures GmbH: SMP
Dr. Martin Schaper, Partner
SMP is a specialist tax and commercial law firm operating in the core areas of corporate, funds, litigation, tax and transactions. SMP’s attorneys and tax advisors represent a wide variety of clients. These include emerging technology companies and family-run medium-sized enterprises as well as corporations and private equity/venture capital funds. Since its foundation in 2017, SMP has become one of the leading addresses for venture capital, private equity and fund structuring in Germany. The firm and its partners are nationally and internationally ranked by JUVE, Best Lawyers, Legal 500, Focus, and Chambers and Partners. Today, SMP employs more than 60 experienced lawyers, tax advisors and tax specialists in three offices in Berlin, Hamburg and Cologne. For more information: www.smp.law and www.linkedin.com/company/smp.law.