31 October 2016 I Deals and Cases

Bär & Karrer Advises Auven Therapeutics on Sale of Ocular Technologies to Sun Pharmaceutical Industries

Auven Therapeutics, an international private equity company focused on accelerated development of therapeutic drugs, has signed an agreement to sell its Swiss subsidiary Ocular Technologies Sarl, to India-based pharmaceuticals company Sun Pharmaceutical Industries Ltd. Auven will receive an upfront payment of USD 40 million plus substantial contingent development and sales milestones with regard to Seciera, Auven's novel patented formulation for the treatment of dry eye disease.

Bär & Karrer is acting as Swiss legal counsel and Akin Gump Strauss Hauer & Feld LLPas international counsel to Auven in this transaction. The Bär & Karrer team includes Thomas Reutter, Michael Trippel, Daniel Heiniger and Daniel Raun (all M&A) as well as Peter Reinarz (Tax).