Advestra advises Ironwood on the cash tender offer for VectivBio

On 22 May 2023, Iron­wood Phar­ma­ceut­ic­als, Inc. (Nas­daq: IRWD), a GI-focused health­care com­pany, and Vec­tiv­Bio Hold­ing AG (Nas­daq: VECT), a clin­ic­al-stage bio­phar­ma­ceut­ic­al com­pany pion­eer­ing nov­el, trans­form­a­tion­al treat­ments for severe rare gastrointest­in­al con­di­tions, announced that they have entered into an agree­ment for Iron­wood to launch an all-cash pub­lic tender offer for Vec­tiv­Bio for $17.00 per share with an estim­ated aggreg­ate con­sid­er­a­tion of approx­im­ately $1 bil­lion, net of Vec­tiv­Bio cash and debt.

Advestra advised Iron­wood on the Swiss leg­al and tax aspects of this trans­ac­tion. The team included Daniel Raun, Andreas Hin­sen, Anna Tomaschek, Anna Capaul, Fabi­an Wild, Samuel Fäh and Akira Kimati (all Cor­por­ate | M&A) as well as Céline Mar­tin, Laurent Ried­weg and Philip Frey (all Tax).