Lund, Sweden, 4 December 2020 –Xintela AB (publ) announces that the arbitral tribunal today has rendered an arbitral award in the dispute between Xintela and four former underwriters. The arbitral award dismisses the claim for payment brought by the underwriters against Xintela in its entirety.
The arbitral award concerns the dispute that arose in connection with the pre-emption rights issue that was announced on 5th September 2018. At the announcement, an underwriting agreement had been entered between Xintela and four underwriters; Formue Nord Markedsneutral A/S, Modelio Equity AB, Oliver Molse and Råsunda Förvaltning AB. However, the board resolved not to go ahead with the rights issue because Xintela had received a very attractive financing option deemed considerably more advantageous for the company and the company’s shareholders. Although the rights issue was never implemented, the underwriters considered themselves entitled to the agreed underwriting commission of in total MSEK 1.5, disputed by Xintela. As a consequence, the counterparty called for arbitral proceedings. An arbitral award has been announced today, dismissing the guarantors’ claims for payment in their entirety. Pursuant to the award, Xintela shall also be reimbursed for costs incurred as a result of the arbitral proceedings.
This information is of such nature that Xintela AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person below, at 15:50 CET on 4 December 2020.
Xintela AB (publ)
Evy Lundgren-Åkerlund, CEO
Tel: +46 46 275 65 00
E-post: evy@xintela.se
Medicon Village
223 81 Lund, Sweden
www.xintela.se
About Xintela
Xintela is an Advanced Therapy company developing regenerative cell therapies and targeted cancer therapies based on the patented marker technology platform XINMARK®. The platform is built on specific cell surface proteins (integrins) and more than 25 years of research and development. Xintela uses the marker technology to isolate and quality assure stem cells for the treatment of musculoskeletal diseases including osteoarthritis (OA). Studies on horses with OA have demonstrated that the stem cells are safe and that they have a positive effect on cartilage and bone. Xintela has established an in-house GMP-facility for manufacturing of stem cells and is preparing a First in Human clinical study on patients with knee OA. In the oncology program, Xintela develops antibody-based therapies for treatment of aggressive tumors including glioblastoma and triple-negative breast cancer. Xintela is listed on Nasdaq First North Growth Market Stockholm since 22 March 2016. Xintela’s Certified Adviser at Nasdaq First North Growth Market is Erik Penser Bank AB, +46 8-463 80 00, certifiedadviser@penser.se.
Download the full press release here.
Below you will find the collected information on Xintela’s press releases, newsletters, diary events, films, media coverage and analyses.
Chairman Gregory Batcheller visited BioStock’s studio to tell us more about the company’s journey and business development.
CEO Evy Lundgren-Åkerlund presents the company at BioStock Investor Meeting on March 16, 2023.
CEO Evy Lundgren-Åkerlund presents the company at BioStock Life Science Fall Summit 2022 on November 30.
CEO Evy Lundgren-Åkerlund presents the company at Aktiespararnas Småbolagsdagarna 2022 (in Swedish).
Targinta's CEO Per Norlén presents the company at Aktiespararnas Småbolagsdagarna 2022 (in Swedish).
CEO Evy Lundgren-Åkerlund presents the company at BioStock Life Science Spring Summit 2022.
Watch the video interview with CEO Evy Lundgren-Åkerlund (in Swedish).
BioStock interview with Xintela's CMO and board member Sven Kili.
BioStock was given the opportunity to interview Sven Kili in connection with his visit to Sweden for board and strategy work in Xintela.
Dr. Marcus Keep comments on Xintelas glioblastoma project.
Xintelas Chairman of the board and strategic advisor Greg Batcheller, tells us more about Xintelas potential and prospects.
Dr. Lisa Fortier at Cornell University, New York is interviewed by BioStock about Xintelas positive results in horse study.
In the following video interview, Karin explains her role at Xintela and what she considers to be Xintela’s primary strengths.
See the interview with Claes Post, member of the board in Xintela. The interview is in swedish with english subtitles.
See the interview with Sven Kili, member of the board in Xintela. The interview is in English (introduction is in Swedish).
See an interview with Xintela's CEO Evy Lundgren-Åkerlund, after the listing ceremony at Nasdaq First North.