Switzerland

Nxera Pharma Co. Ltd, listed on the Tokio Stock Exchange, has entered into an exclusive licensing agreement with Santhera Pharmaceuticals under which Nxera will commercialize the drug AGAMREE® in Japan, South Korea, Australia and New Zealand. Concurrently, Nxera invests in SIX-listed Santhera Pharmaceuticals Holding AG. Bär & Karrer acted as legal advisor to Nxera Pharma regarding the investment and Swiss law aspects of the license. The team was co-led by Luca Jagmetti (M&A) and Urs Kägi (Capital Markets) and included Oliver Brupbacher (Life Science), Markus Wang (IP), Matthias Tanner (Capital Markets) and Sebastian Sutter (M&A).

In connection with a carve-out process, the Ortlinghaus Group sold its EM+H Division, which encompasses among others the production and sale of electromagnetic brakes and clutches as well as pneumatic toothed clutches and other trade goods to Stüwe Switzerland AG, a group company of Stüwe GmbH &Co. KG. The transaction has already been completed. Bär & Karrer acts as legal advisor to the Ortlinghaus Group in this carve-out process. The team of Bär & Karrer is co-led by Christoph Neeracher and Philippe Seiler and includes Li Wei Dutler and Markus Mezger (both M&A), Rocco Rigozzi and Corina Moschen (both Real Estate), Laura Widmer (Employment), Raoul Stocker and Fabian Capt (both Tax) Markus Wang and Christine Schweikard (both IP/IT) as well as Ruth Bloch-Riemer (Social Security).    

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]