Brief: Onxeo Reports Decision From Paris Court Of Appeal In Lawsuit Against SpeBio/SpePharm

Valerio Therapeutics SA

13/12/2018 18:05

Dec 13 (Reuters) - ONXEO SA  C4X.PA :
    * ONXEO REPORTS DECISION FROM PARIS COURT OF APPEAL IN
LAWSUIT
AGAINST SPEBIO/SPEPHARM
    * SAYS PARIS COURT OF APPEAL CONFIRMED FIRST INSTANCE
DECISION OF
PARIS COMMERCIAL COURT OF 17 OCTOBER 2017
    * ONXEO IS REVIEWING ALL POSSIBLE AVENUES OF REMEDIES AND
NEGOTIATION
    * THE NET FINANCIAL IMPACT OF THIS DECISION FOR ONXEO WILL
HAVE TO
BE RECALCULATED UPON COMPLETION OF THIS REVIEW
    * SAYS PARIS COURT OF APPEAL ORDERED ONXEO TO PAY SPEBIO
B.V.
ADDITIONAL SUM OF ABOUT EUR 2.75 MILLION AS COMPENSATION FOR
DAMAGE RESULTING FROM COSTS INCURRED AND LOSS OF OPPORTUNITY
    * ONXEO HOLDS 50% OF SPEBIO B.V. AND SHOULD BE ABLE TO
RETRIEVE
HALF OF FINANCIAL ASSETS IN JOINT-VENTURE, WHICH SHOULD AMOUNT
TO APPROX. EUR 5 MILLION
    * SAYS COURT ANNULLED CONDEMNATION OF EUR 50,000 THAT ONXEO
HAD TO
PAY TO SPEPHARM AS DAMAGES

Source text for Eikon:  ID:nBw8LqYcBa 
Further company coverage:  C4X.PA 

 (Gdynia Newsroom)
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))