Norton Rose Fulbright advises Canopy Growth on €225.9m Bionorica cannabis acquisition

Mondial | Communiqués - Affaires | mai 2019

Global law firm Norton Rose Fulbright has advised Canada’s Canopy Growth Corporation (Canopy Growth) on its €225.9m acquisition of Cannabinoid Compound Company (C3) founded by German-based Bionorica SE.

The deal furthers Canopy Growth's expansion into European markets and gives it immediate access to a wealth of knowledge and intellectual property that C3 has developed in its nearly 20 years of research and development into synthetic and natural cannabis medical products.

C3’s primary medicinal offering is dronabinol, a pure chemical compound with standardized concentrations of tetrahydrocannabinol (THC), one of the active ingredients found in cannabis plants that is responsible for various pharmacological effects.

This stands as the most recent example of a number of strategic sales and acquisitions the firm has advised on in relation to the cannabis sector, in addition to exemplifying the cross-selling advantages provided through working within a global platform. The following opportunity was facilitated through members of our Canadian team.

Frankfurt-based partner Nils Rahlf, who led the deal team, commented: “Investments and acquisitions related to cannabis-based therapeutics businesses continue to rise as companies seek to drive growth and build economies of scale in a highly competitive sector.”

Alongside Nils, the Norton Rose Fulbright deal team in Germany comprised corporate and M&A partners Heimon Smits (Amsterdam), Dr Heiko Bertelmann (Hamburg) and Dr Marco Niehaus (Frankfurt) and associate Andre Hartmann (Frankfurt). Partner Dr Christoph Ritzer, senior associate Sven Jacobs and Natalia Filkina in Frankfurt were providing regulatory/IT/TSA advice. The labour law team in Hamburg included Dr Frank Weberndörfer, as well as the associates Maria Siemens and Christoph Valentin. Real estate advice was provided by Dr Hendrik Theismann, of counsel Michael Mehler and associate Daniela Kowalsky in Frankfurt. The Hamburg antitrust team comprised partner Dr Maxim Kleine, of counsel Dr Tim Schaper, associates Katja Weiß and Dr Tobias Teichner. Partners Daniel Marschollek (Frankfurt) and Clemens Rübel (Munich) advised on IP and patent law matters, together with of counsel Manuel Merling, senior associate Tiffany Zilliox and associate Maximilian Schmitz. Of counsels Michael Wiedmann (compliance, Frankfurt) and Dr Felix Dinger (public law, Hamburg) and associate Alisa Kuznetsova (banking, Frankfurt) were also involved. In addition, partners Dr Uwe Eppler and Tino Duttiné, as well as associates Julia Gallinger, Judith Kutter and Robert Schmidt advised on tax-related issues.

The international in-house legal team at Canopy Growth included Phil Shaer (Chief Legal Officer) and Franziska Katterbach (Legal Director Europe).

The Norton Rose Fulbright cannabis law team has a deep understanding of the existing and emerging cannabis industry. The firm has long recognized the opportunities that have arisen from the legalization of cannabis for medical purposes, and more recently, for recreational purposes in Canada and internationally. Norton Rose Fulbright’s clients are key industry players across the value chain, including producers, distributors, investors, research and development organizations and technology providers. The firm has extensive experience in providing strategic guidance to companies at the preliminary licensing stage through to the construction of facilities, distribution of products, and expansion and diversification of their cannabis-related portfolios.