Antibe Therapeutics Inc(Pre-Merger) ATBPF

Antibe is over the barrel (binding arbitration)

[Duster340]

the arbitrator has found in favor of Nuance Pharma in the dispute regarding the license agreement for the commercialization of otenaproxesul in the Greater China region. The confidential ruling from the Singapore International Arbitration Centre rescinds the license agreement and requires Antibe to refund the US$20 million upfront payment and pay interest and costs of approximately US$4 million. The decision is not subject to appeal. 

“We strongly disagree with this decision,” commented Dan Legault, Antibe’s CEO. “Nonetheless, we acknowledge the fact that we agreed to binding arbitration in a foreign jurisdiction. Antibe respects the confidentiality and final nature of the arbitration proceedings and will accept the decision in good faith.