Freshfields Advised Evotec on the Sale of Just - Evotec Biologics with Technology Licence to Sandoz

Freshfields Advised Evotec on the Sale of Just - Evotec Biologics with Technology Licence to Sandoz

Global law firm Freshfields has advised the publicly listed Evotec SE on the sale of its French subsidiary Just - Evotec Biologics EU to Sandoz AG, as well as on a related licence agreement. The transaction marks a key milestone in Evotec’s strategy to establish a less capital-intensive business model.

Evotec SE, a leading life sciences company in the field of drug discovery and development, has entered into an agreement with Sandoz AG for the sale of Just - Evotec Biologics EU. As part of the transaction, Evotec has transferred its biosimilar manufacturing resources at its Toulouse site to Sandoz, enabling Sandoz to produce biosimilar medicines using Just - Evotec Biologics’ innovative continuous manufacturing technology. The transaction also includes a licence agreement and several ancillary commercial arrangements between the parties. The consideration for the shares in Just - Evotec Biologics EU amounts to approximately $350m, plus additional performance- and technology-related payments, milestones and royalties exceeding $300m. The divestment represents an important further step in the long-standing strategic partnership between Evotec and Sandoz.

Freshfields advised Evotec on all German and French legal aspects of the transaction. This included drafting and negotiating the transaction documents, including the licence agreement and ancillary commercial arrangements, advised on the employee participation process under French labour law, and providing tax advice.

The Freshfields team was led by Christoph H. Seibt (Partner), Vincent Daniel-Mayeur (Partner), Marie Roche (Partner), Alexander Schwahn (Partner) and Gwen Senlanne (Partner).

Counsel: Philipp Roos (Data Protection), Sarah Rohmann (Employment Law, both Düsseldorf), Björn Junior (Tax, Hamburg), Jules Troubat (Corporate/M&A, Paris), Alexander Pospisil (Finance, Frankfurt), Juliane Ziebarth (Antitrust, Düsseldorf) and Tanguy Bardet (Finance, Paris)

Principal / Senior Associates: Jil Rollmann (Corporate/M&A, Hamburg), Samvel Der Arsenian (Finance, Paris), Nicolas Sölter (Regulatory, Hamburg), Kimberly Wang (Corporate/M&A, Silicon Valley), Jan Kothe (Hamburg), Edouard Laperriere (Paris, both Tax), Christina Hinterschweiger (Antitrust, Vienna), Simon Schulte-Lübberding (all Corporate/M&A) and Aljosha Barath (Commercial/IP, all Hamburg) and Maximilian Stöwahse.

Associates: Yvonne Wolski (Data Protection, Commercial/IP, Düsseldorf), Zahar Quasim (Commercial/IP, Hamburg), Chabha Agréa (Employment Law, Paris), Leon Liekefett (Tax, Hamburg), Martin Leclerc Bialluch, Alexandra Harf, Melanie Jacobi (all Corporate/M&A, Hamburg), Marwan Hammache, Léa Hirschi (both Finance, Paris), Alexander Bräuer (Finance, Frankfurt) and Pascal Schönemann (Antitrust, Düsseldorf)

Professional Support Lawyer: Inna Pustal (Commercial/IP, Frankfurt)

Inhouse: Christian Dargel (General Counsel) and Tobias Bunke (Finance).

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