Xintela receives 1,5 MSEK in dispute settlementXintela today announces that it has settled a dispute and will receive 1,500,000 Swedish Crowns in compensation. The background to the dispute is that the counter party, who had an assignment from Xintela to validate one of the company's patents, missed the deadline for validation with the consequence that the patent was not validated in Belgium. Xintela and the counter party have now reached an agreement giving Xintela 1,5 MSEK in compensation and there will be no trial. Under the terms of the settlement, Xintela and the counter party will bear their own legal costs.
- We are very happy to have reached a settlement which gives us both compensation for the loss of the patent (in Belgium) and avoids a long, drawn out legal process, says the company's CEO Evy Lundgren- Åkerlund. 22 August 2016, 08:55 Xintela AB (publ)
Evy Lundgren-Åkerlund, CEO
Tel:+46 70-329 18 71
E-mail: [email protected]
Medicon Village
223 81 Lund, Sweden
www.xintela.se
Queries regarding trading with Xintela shares and warrants will be answered by the company's Certified Adviser, Consensus Asset Management AB. Telephone: +46 31-745 50 00.
Media and Investor Relations related queries should be directed to:
Adam Lindblom, Laika Consulting
Tel: +46 73-062 20 13
E-mail: [email protected]
www.laika.se
The following documents can be retrieved from beQuoted
Xintela Pressrelease 2016-08-22 English.pdf About Xintela
Xintela AB (publ) is a Swedish biomedical company active in the fields of regenerative medicine and cancer, with a focus on cartilage damage and brain tumours. The key to Xintela's business is the Company's patented marker technology, XINMARK™. Xintela's markers are specific proteins which sit as "recognition flags" on certain cell surfaces. The markers make it possible to identify and quality assure cartilage cells and stem cells and also to select a certain type of stem cells which can develop into cartilage cells. Through this technology, Xintela can, in a unique way, quality assure stem cells for the repair of damaged cartilage. The XINMARK™-technology makes it also possible to direct antibody treatment to cells in glioblastoma brain tumours with the goal to slow down tumour growth. Xintela is listed on Nasdaq First North since 22 March 2016. Xintela's Certified Adviser at Nasdaq First North is Consensus Asset Management AB.
This information is information that Xintela AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication through the agency of the contact persons set out above on 22 August 2016, at 08:55 a.m CET
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