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Active Biotech and PowderJect Pharmaceuticals have reached an amicable settlement of their arbitration

2004-04-01

PowderJect has agreed to withdraw its claims in the sum of USD 20 million and to waive its rights under the disputed warranties of the Share Purchase Agreement.
Active Biotech has agreed to reduce its claim, the milestone payment for the European approval of Dukoral vaccine, under the Royalty Agreement between SBL Vaccin and Active Biotech of 2001, to USD 4,5 million.
Upon payment of USD 4.5 million, Active Biotech has agreed to waive all rights to further royalty and milestone payments, and all current claims and disputes between the parties are settled.
Lund, April 1, 2004
Active Biotech AB (publ)
Sven Andréasson
President & CEO
For further information about Active Biotech visit www.activebiotech.com.
Active Biotech AB is a biotechnology company focusing on research in and development of pharmaceuticals. Active Biotech has a strong R&D portfolio and pipeline products with focus primarily on autoimmune/ inflammatory diseases and cancer. Most advanced projects include orally administered small molecules with unique immunomodulatory properties that can be used to treat autoimmune and inflammatory diseases, as well as a novel concept for use in cancer immunotherapy.
Active Biotech AB
Box 724, SE-220 07 Lund, Sweden
Tel: +46 (0)46-19 20 00
Fax: +46 (0)46-19 20 50

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