Cosmo Pharmaceuticals N.V. (SIX: COPN, "Cosmo") and Cassiopea S.p.A. (SIX: SKIN, "Cassiopea") announced today that the companies have entered into a transaction agreement under which Cosmo is launching a public exchange offer in Switzerland to acquire all of the publicly-held registered shares of Cassiopea. The public exchange offer is expected to close in December 2021. After successful completion of the public exchange offer, Cassiopea will be delisted from SIX Swiss Exchange.

For existing and new shareholders of Cosmo, the transaction will create a company with a more critical size, a stronger and more diversified drug product pipeline, a larger capitalization and an increased free-float, which is expected to increase the overall market attractiveness of Cosmo shares.

Baker McKenzie advised Cosmo Pharmaceuticals on all legal and tax aspects in connection with this exchange offer.

The Baker McKenzie Switzerland team is led by Dr. Matthias Courvoisier (partner, capital markets) and Beau Visser (associate Zurich, capital markets) and is comprised of Susanne Liebel-Kotz (associate Zurich, taxes), Tanja Schmid (associate, banking and finance), Elena Mani (junior associate Zurich, capital markets) and Louise Steinfels (associate Geneva, litigation). On an international level, the team furthermore includes Adam Farlow (partner London, capital markets), Ludovico Rusconi (partner Milan, capital markets), Francesco Florenzano (partner Milan, taxes) Rebecca Kuijpers-Zimmerman (legal director Amsterdam, corporate) and Niels Matze (associate Amsterdam, corporate).

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