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06 December 2016

Charles Russell Speechlys has advises Kreos Capital on the sale of Creabilis plc

Charles Russell Speechlys has advised Kreos Capital on the sale of its stake in Creabilis plc, a privately held specialty pharmaceutical company focused on developing first-in-class topical treatments for common inflammatory skin conditions, including psoriasis, atopic dermatitis and pruritus (itch) to Sienna Biopharmaceuticals, Inc., a privately held, clinical-stage medical dermatology and aesthetics company. Under the terms of the agreement, Sienna will make an undisclosed upfront payment in cash and stock, as well as additional payments contingent upon achieving specific regulatory and commercial milestones, which could exceed $150 million in aggregate.

“The acquisition of Creabilis is transformative, expanding Sienna’s innovative and diversified pipeline,” said Sienna President and Chief Executive Officer Frederick C. Beddingfield III, M.D., Ph.D., who formerly developed leading dermatology and aesthetics brands such as BOTOX® Cosmetic, JUVÉDERM®, LATISSE®, KYBELLA®, ACZONE® and TAZORAC®. “Both the TrkA and TrkA/JAK3 programs offer the potential of highly differentiated topical treatments for inflammatory skin diseases and pruritus. Furthermore, the addition of the groundbreaking “Topical by Design” technology will allow Sienna to discover and develop innovative new drug candidates for areas of high unmet need in dermatology.

Chris Putt commented, “The complexity of project managing the multiple jurisdictions this deal spanned across, is further evidence of our international reach and shows our Luxembourg office’s strength in the financial services sector.”

The Charles Russell Speechlys core team comprised Partner Chris Putt, Senior Associate Rossana Conti and Associate Olivia Mackie from our Corporate Team.