Switzerland

On January 8, 2026, Santhera Pharmaceuticals Holding AG (SIX: SANN) announced that it had signed an exclusive licensing agreement with Nxera Pharma, a biopharmaceutical company listed on the Tokyo Stock Exchange, for the development, manufacturing and commercialization of AGAMREE® for the treatment of Duchenne muscular dystrophy in Japan, South Korea, Australia and New Zealand. Santhera will receive a USD 30 m cash upfront payment and a USD 10 m equity investment through the purchase of c. 530 k shares by Nxera at a 20 % premium to the 30-day VWAP. Homburger advises Santhera on the Swiss corporate, capital markets and financing aspects of the transaction. The Homburger team is led by Daniel Häusermann and includes Marco Rostetter (both Corporate / M&A, Capital Markets) and Eduard De Zordi (Financing, Investment Products, Capital Markets).

On 22 October 2025, FalconX and 21Shares announced to join forces by a merger by absorption by FalconX of 21Shares' ultimate parent company. The merger was effected in November 2025. FalconX is a leading digital assets prime brokerage providing comprehensive access to global digital asset liquidity and a full range of services to the world’s top institutions. The firm serves as a single point of access for trading, financing, custody, and direct market access (DMA) across spot, derivatives, and FX markets, supported by advanced technology and sophisticated risk management. 21Shares, through its Swiss offering vehicle 21Shares AG, offers one of the world's largest suite of cryptocurrency exchange-traded products (ETPs), making cryptocurrency investing more accessible. 21Shares will continue to operate as an independent company within the FalconX group, maintaining the same management team and brand. This acquisition strengthens the bridge between listed-market products and the crypto-native ecosystem at a time when digital assets are becoming increasingly institutionalized. Homburger AG advised 21Shares on various Swiss law- and Swiss tax-related matters in the preparation and implementation of the merger. The team was co-led by Margrit Marti (Corporate / M&A) and Benjamin Leisinger (Capital Markets / Financial Market Regulation) and included Stefan Oesterhelt, Reto Heuberger, Peter Müller, Philippe Gobet and Philippe Stiegeler (all Tax), Olivier Bühlmann and Carolina Rodriguez (both Corporate / M&A), Gregor Bühler (Data Protection and Employment), as well as Stefan Bindschedler and Simone Gloor (Financing). Contact Gloria Pünchera / Marketing / [email protected]  

Allurity, a leading European group of cybersecurity service providers, acquired Monti Stampa Furrer & Partners Group (MSF Partners), an operational technology (OT) security firm specialized in safeguarding critical business assets and infrastructure including manufacturing plants, hydro dams, energy generation and mining facilities, and other essential systems that societies rely on. The transaction was closed on 31 October 2025. The acquisition strengthens Allurity’s position as a comprehensive cybersecurity group covering the entire cybersecurity lifecycle – from risk identification and prevention to detection, response, and recovery. Becoming part of Allurity gives MSF Partners the strength of a leading European cybersecurity group and access to new markets. Bär & Karrer advised Allurity on all Swiss legal aspects of the transaction, alongside Cederquist as lead counsel. The Bär & Karrer team was co-led by Peter Hsu (M&A/ Banking, Insurance & Finance) and Christian Kunz (Technology & Data Protection) and further included Ferdinand Rombach, Katharina Cardon (both Technology & Data Protection), Christina Y. Werren, Philipp Theiler and Luiza Gjura (all M&A / Banking, Insurance & Finance), Christine Schweikard (IP), Laura Widmer, Marc Paronitti (both Employment), and Christoph Suter, Ruth Bloch-Riemer, Joelle Cruz (all Tax). The Allurity Team consisted of Niklas Bromé, Ulf Hage and Maria Lörne.

Georg Fischer AG (GF), a Swiss industrial company listed at SIX Swiss Exchange (ticker: GF) has completed the divestment of its iron foundry in Leipzig (Germany) to Linamar Corp., a global manufacturer of advanced mobility and industrial solutions headquartered in Canada, effective end of day on 31 December 2025. The successful closing represents one of the final steps in GF’s transformation into a pure-play Flow Solutions company. The transaction value amounts to approximately EUR 45 million. With the closing, the iron foundry’s around 300 employees and operations in Leipzig transfer to Linamar. The foundry was previously part of the GF Casting Solutions division, for which a divestment agreement covering most of its business was signed on 30 July 2025. Niederer Kraft Frey acts as lead counsel to GF on this transaction, following its earlier lead counsel role in connection with the divestment of GF’s Casting Solutions division to Nemak (announced in July 2025) and the divestment of GF’s Machining Solutions division to United Grinding Group (announced in October 2024). The NKF team is co-led by Transactions partners Philip Spoerlé and Andrea Giger and further comprises associates Carlotta Ulmer, Peter-Conradin Schreiber and Lorenzo Henseler (all Transactions), junior associates Leonard Reiter and Caterina Moor (both Transactions), partner Thomas Hochstrasser (Commercial), partner Nicolas Birkhäuser (Antitrust), as well as counsel Marc Vogelsang (Tax). NKF is supported by White & Case LLP with a team led by Stefan Bressler, Gernot Wagner and Rebecca Emory and comprising Maximilian Eichhorn (all Frankfurt).