Milbank LLP has advised AdhexPharma S.A.S. ("AdhexPharma"), a pharmaceutical company specialized in the field of development and manufacturing of transdermal patches, oral thin films and hard-to-make dosage forms, on the acquisition of 100% of the shares in tesa Labtec GmbH ("tesa Labtec") from tesa SE. AdhexPharma, headquartered in Paris, is the pharmaceutical branch of Burgundy Ventures, a French independent industrial holding. The terms of the transaction were not disclosed.
With this acquisition, AdhexPharma joins forces with tesa Labtec, a well-known CDMO company offering formulation, development, and contract manufacturing services of transdermal and topical patches as well as buccal and sublingual films, located in Langenfeld and Hamburg. AdhexPharma will take over the activities of tesa Labtec, ensuring the continuation of both companies' core businesses, nurturing their recognized know-how, in collaboration with current employees and customers. Both companies will benefit not only from a strong expertise synergy, but also from a robust pipeline of projects in development to accelerate growth.
The Milbank team, which advised AdhexPharma on corporate and tax law aspects of the transaction, was led by partners Michael Bernhardt and Leopold Riedl (joint lead, Corporate/M&A, Frankfurt) and included partner Matthias Schell (Tax, Munich) and associate Johannes Wohlmuth (Corporate/M&A, Frankfurt).
