August Debouzy advises Etherna Immunotherapies on acquisition by Valerio Therapeutics

August Debouzy advised Etherna Immunotherapies, with Deloitte Belgium and Moelis & Company also acting as advisors to Etherna; Goodwin Procter LLP advised Valerio Therapeutics, and Van Lanschot Kempen NV served as exclusive financial advisor and sole placement agent to Valerio. The transaction concerns the signature of definitive agreements under which Valerio Therapeutics, a biotechnology company listed on Euronext Growth Paris, will acquire Etherna Immunotherapies, a Belgian company specialising in mRNA and lipid nanoparticle technologies. The operation is based on an enterprise value of €30 million and provides for consideration paid partly in cash and partly in Valerio Therapeutics shares. The transaction is accompanied by a €40.25 million PIPE financing subscribed by existing and new investors, intended to cover the cash component of the consideration, the integration of Etherna and the further development of the combined company. The planned combination brings together Valerio’s cell-targeting technologies, Etherna’s platforms and the production capabilities located at Etherna’s Niel site in Belgium. The aim is to form an integrated biotechnology company capable of accelerating the development of RNA-based therapeutics that can reach tissues beyond the liver. The combined entity will cover the full value chain from molecule design through to clinical trial production. Completion of the acquisition remains subject to approval by Valerio Therapeutics’ shareholders at an extraordinary general meeting expected in early October 2026. Irrevocable voting commitments have already been obtained from shareholders representing more than 70% of the voting rights. August Debouzy represented Etherna Immunotherapies with a team composed by: Julien Aucomte and Jean-Damien Boulanger, Partners; Maxime Legourd, Counsel; and Albane Shehabi, Lawyer. Deloitte Belgium acted as legal counsel to Etherna Immunotherapies. Moelis & Company acted as financial advisor to Etherna Immunotherapies. Goodwin Procter LLP advised Valerio Therapeutics. Van Lanschot Kempen NV acted as exclusive financial advisor and sole placement agent in connection with Valerio Therapeutics’ acquisition and the associated financing.

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August Debouzy advises Etherna Immunotherapies on acquisition by Valerio Therapeutics

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August Debouzy advises Etherna Immunotherapies on acquisition by Valerio Therapeutics

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