Croissy-Beaubourg (France), April 4, 2019 5:45pm CEST – THERADIAG (ISIN: FR0004197747, Ticker: ALTER), a company specializing in in vitro diagnostics and theranostics, announced that it has entered into a settlement agreement with HOB Biotech to end their legal dispute.
In 2015, HOB Biotech and Theradiag signed a series of agreements designed to organize a commercial cooperation between the two companies. Due to difficulties in the implementation of such cooperation, Theradiag was unable to distribute the agreed products in Europe or to market its reagents in China. Therefore, Theradiag initiated in 2018 legal proceedings in Singapore against HOB Biotech.
In consideration for Theradiag’s withdrawal of such proceedings, the settlement agreement provides that HOB Biotech will pay to Theradiag, as final settlement of any amount that may be claimed, a global amount of six hundred and fifty thousand (650,000) euros, including the buyback of instruments that Theradiag purchased from HOB Biotech. This amount was paid by HOB Biotech immediately after the execution of the settlement agreement and Theradiag is accordingly withdrawing its action in Singapore. As a result, Theradiag and HOB Biotech are no longer bound by any of their obligations under the 2015 agreements.
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Capitalizing on its expertise in the distribution, development and manufacturing of in vitro diagnostic tests, Theradiag innovates and develops theranostics tests (combining treatment and diagnosis) that measure the efficiency of biotherapies in the treatment of autoimmune diseases and cancer. Theradiag is thus participating in the development of customized treatment, which favors the individualization of treatments, the evaluation of their efficacy and the prevention of drug resistance. Theradiag notably markets the Lisa Tracker® range (CE marked), which is a comprehensive multiparameter theranostic solution for patients with autoimmune diseases treated with biotherapies. The Company is based in Marne-la-Vallée, near Paris, and has over 60 employees.
For more information about Theradiag, please visit our website: www.theradiag.com
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