Bioton S.a.GPW: BIO

Bioton Says Polish Court Declares Chinese Arbitral Award Enforceable

· Issued by Bioton S.a.

Bioton SA GPW:BIO:

  • SAID ON TUESDAY WARSAW COURT OF APPEAL RULES CHINESE ARBITRATION AWARD FROM 2017 ENFORCEABLE AGAINST THE COMPANY

  • ARBITRATION AWARD REQUIRES PAYMENT OF $1.5 MLN DAMAGES PLUS INTEREST AND ABOUT $185,000 IN LICENSE FEES PLUS INTEREST TO HEFEI LIFE SCIENCE PARK INVESTMENTS AND DEVELOPMENT

  • COURT REJECTS COMPANY ARGUMENT THAT CLAIMS WERE TIME-BARRED

  • COMPANY IS ANALYZING THE RULING AND CONSIDERING FURTHER LEGAL ACTIONS, INCLUDING POTENTIAL CASSATION COMPLAINT

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