DLA Piper has advised Panoptes Pharma co-founders Franz Obermayr and Stefan Sperl and other unspecified shareholders on the sale of 100% of the company to EyeGate Pharmaceuticals. Frotz Riedl in Austria and Burns & Levinson in the US reportedly advised the buyer.
Financial details of the transaction were not disclosed.
EyeGate Pharmaceuticals is a clinical-stage specialty pharmaceutical company focused on developing and commercializing products for treating diseases and disorders of the eye. The company is listed on Nasdaq and is headquartered in Waltham, Massachusetts.
Panoptes Pharma is a privatively-held Vienna-based clinical stage biotech company focused on developing treatments for severe eye diseases.
According to DLA Piper, “Dr. Franz Obermayr and Dr. Stefan Sperl, [along with] the institutional and strategic investors, sold their stake by way of a share swap and now hold an interest in EyeGate.” The firm also reported that, “under the terms of the agreement, Panoptes became a wholly owned subsidiary of EyeGate and its co-founders became part of the EyeGate management team.”
DLA Piper’s team consisted of Partner Christoph Mager, Counsel Johanna Holtl, and Senior Associate Christian Knauder.