On June 18, 2024, Santhera Pharmaceuticals Holding AG (SIX: SANN) announced that it had entered into a royalty monetization financing totaling up to USD 38 m with R-Bridge, an affiliate of CBC Group, Asia's largest healthcare-focused investment firm. Santhera is monetizing 75% of its future royalty income streams from its North America and Greater China outlicensing of its marketed product AGAMREE®. In addition, Santhera entered into a commitment letter for a CHF 35 m senior secured term loan financing with certain funds managed by Highbridge Capital. The transaction also includes changes to existing financing arrangements with Highbridge Capital as well as tie issuance of warrants to Highbridge Capital.

Homburger advised Santhera on the Swiss law and tax aspects of the transaction. The Homburger team was led by Daniel Häusermann (Corporate / M&A, Capital Markets) and included Eduard De Zordi, Laura Müller and Michelle Wolf (all Financing and Investment Products, Capital Markets), Stefan Oesterhelt (Tax), Gregor Bühler and Joel Fink (IP / IT), Jasmin Künzle (Corporate / M&A, Capital Markets). Ropes & Gray acted as U.S. counsel to Santhera.