Friday - 2021/10/22
HomeDeal & transactionsHelix Acquisition Corp business agreement with MoonLake. The advisors

Helix Acquisition Corp business agreement with MoonLake. The advisors

Helix Acquisition Corp business agreement with MoonLake. The advisors

Helix Acquisition Corp, a Nasdaq-listed special purpose acquisition company and MoonLake Immunotherapeutics, a Swiss based clinical-stage biotechnology company focused on creating next-level therapies for inflammatory skin and joint diseases agreed on a business combination.

At closing of the envisaged business combination, MoonLake will have access to approximately USD 230 million in cash (subject to redemptions), combining funds held in Helix’s trust account and the proceeds of a PIPE financing. The transaction – pursuing an Up-C structure – allows certain existing MoonLake shareholders to exchange their MoonLake shares against Helix shares on closing, while other existing MoonLake equity holders are granted the ability to exchange their MoonLake equity into Helix shares.

Proceeds from the transaction should provide MoonLake with the capital needed to accelerate the development of the clinical stage, tri-specific Nanobody® sonelokimab, in multiple inflammatory diseases in dermatology and rheumatology driven by IL-17A and IL-17F (A/F Inflammatory Diseases or AFIDs). 

The advisors

Pestalozzi advised Helix with regard to all Swiss law related aspects of the transaction and its implementation, which is expected for late 2021, early 2022. The Pestalozzi team included Severin Roelli (partner, corporate / m&a, pictured above), Franz Schubiger (partner, corporate / m&a), Jonas Sigrist (partner, tax), Florian Schnyder (associate, coporate / m&a), Raphael Widmer (associate, coporate / m&a).

Kellerhals Carrard acted as Swiss legal advisor to MoonLake Immunotherapeutics on this transaction. The team was led by partner Nicolas Mosimann (corporate, m&a, pictured left) and comprised partner Emanuel DettwilerKevin MacCabeJon Oetiker, Dario Ammann and Sophie Holdt (all corporate/vc), Marco Sibold (tax/corporate) and Melanie Huber (employment). 


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