Decision in the litigation opposing Onxeo to the companies Eurofins and ABL
Decision in the litigation opposing Onxeo
to the companies Eurofins and ABL
- Recognition of Eurofins’s debt to Onxeo resulting from the absence of payment of the option
- This debt is compensated by damages benefiting Eurofins
- None of the parties obliged to the payment of has to pay an indemnity towards the other
Onxeo S.A. (Euronext Paris, NASDAQ Copenhagen: ONXEO), an innovative company specializing in the development of orphan oncology drugs, today announced a decision in the litigation opposing Onxeo to the group’s companies Eurofins (Eurofins Pharma US Holding Inc., Viralliance Inc. and Eurofins Scientific Inc.) and ABL before the Paris Commercial Court under the transfer of a phenotyping technology to diagnose resistance to antiviral drugs granted by Onxeo (BioAlliance Pharma at that time) to Eurofins.
In its decision, regarding complex topics,the Paris Commercial Court acknowledged that Onxeo has breached its contractual obligations of information toward Eurofins, and at the same time, considered that Eurofins was obliged to pay damages compensation for an amount esual to the price of the option. The Paris Commercial Court has thus cancelled respective debts of Onxeo and Europfins by a system of mutual compensation, so that none of the parties has to pay for compensation.
ABL has not been held responsible but its claims against Onxeo have been dismissed.
This decision may be appeled during one month from the delivery of this decision.