XINTELA RECEIVES 1,5 MSEK IN DISPUTE SETTLEMENT
Xintela 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
companys 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 companys CEO Evy Lundgren- Åkerlund.
22 August 2016, 08:55
Xintela AB (publ)
Evy Lundgren-Åkerlund, CEO
Tel:+46 70-329 18 71
E-mail: evy@xintela.se
Medicon Village
223 81 Lund, Sweden
www.xintela.se http://www.xintela.se
Queries regarding trading with Xintela shares and warrants will be answered by
the companys 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: adam.lindblom@laika.se mailto:adam.lindblom@laika.se
www.laika.se http://www.laika.se
The following documents can be retrieved from beQuoted
Xintela Pressrelease 2016-08-22 English.pdf -
http://www.bequoted.com/beQPress/download.asp?Id=18571
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 Xintelas business is the Companys patented marker
technology, XINMARK(tm). Xintelas 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(tm)-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. Xintelas 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
