Bullboard - Stock Discussion Forum Antibe Therapeutics Inc(Pre-Merger) ATBPF

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Antibe Therapeutics Inc. is a clinical-stage biotechnology company. The Company is leveraging its hydrogen sulfide (H2S) platform to develop therapies to target inflammation arising from a range of medical conditions. The Company’s pipeline includes assets that seek to overcome the gastrointestinal ulcers and bleeding associated with nonsteroidal anti-inflammatory drugs (NSAIDs). Its lead drug,... see more

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Antibe Therapeutics Inc(Pre-Merger) > Antibe is over the barrel (binding arbitration)

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Post by Duster340 on Mar 26, 2024 9:11am

Antibe is over the barrel (binding arbitration)

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.

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