RE:RE:RE:RE:Brokered Private PlacementFrom Twitter Oc. 18th: After several unsuccessful attempts to settle the dispute, RepliCel has filed an arbitration claim seeking Shiseido's full compliance with the agreement or return of the license and all collaboration data and innovations related to its cell therapy treatment for male and female pattern hair loss.
VANCOUVER, BC / ACCESSWIRE / October 18, 2021 / RepliCel Life Sciences Inc. (OTC PINK:REPCF)(TSXV:RP)(FRA:P6P2) ("RepliCel" or the "Company"), a company developing next-generation technologies in aesthetics and orthopedics, announced today it has retained Aceris Law LLC, a law firm specialized in international arbitration, to pursue the resolution of its disagreement with Shiseido Company Limited ("Shiseido").
The Company further announced that its legal counsel has now filed a Notice of Arbitration and provided a copy to Shiseido in accordance with the International Center for Dispute Resolution (ICDR) Rules, which are the arbitration rules that govern all disagreements between the parties.
The dispute between Shiseido and RepliCel is related to a license for Asia, acquired by Shiseido, to RepliCel's cell therapy technology for androgenetic alopecia, which is the leading cause of male and female pattern hair loss.
In accordance with the ICDR rules, once an arbitrator is selected and the parties have filed their claims and responses, the arbitrator will accept evidence and arguments in support of a ruling on whether or not either party materially breached the license agreement and what relief should be awarded as a result of the ruling including enforcement of the license agreement, return of the license, and/or payment of damages including the equivalent of all reasonably expected future milestone and royalty payments.
Legal counsel for RepliCel issued several demand letters to Shiseido to comply with the terms of its license agreement which RepliCel alleges Shiseido has now breached which, if not cured, could result in the return of the license to RepliCel for re-licensing to other partners in Asia.
ICDR rules state that the Arbitration has a deadline of 1 year.