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Adocia S.A.. (2/6/18). "Press Release: Adocia Files Additional Arbitration Claims Against Eli Lilly & Company". Lyon.

Organisations Organisation Adocia S.A.
  Organisation 2 Eli Lilly & Co. Inc. (NYSE: LLY)
  Group Eli Lilly (Group)
Products Product BioChaperone® technology
  Product 2 BioChaperone Lispro
Index term Index term Lilly–Adocia: BioChaperone technology, 201112–201307 collab excl ww $10m upfront + $156m milestones ultra-fast insulin analag TERMINATED 7/13
Persons Person Soula, Gérard (Adocia 201201 CEO + co-founder also founder of Flamel Technologies)
  Person 2 Gabriel, Raimund (MC Services 1999–201101– Founder + CEO)
     


Adocia seeks damages of over USD 200 million and other relief relating to Lilly’s misappropriation and improper use of confidential information and discoveries owned by Adocia and Lilly’s breaches of development and confidentiality agreements


Adocia (Euronext Paris: FR0011184241 – ADOC), a clinical stage biopharmaceutical company focused on diabetes and other metabolic diseases with innovative formulations of approved proteins, announced today that it has filed additional arbitration claims against Eli Lilly & Company (“Lilly”) arising out of Lilly’s misappropriation and improper use of Adocia’s confidential information and discoveries as well as Lilly’s breaches of several collaboration and confidentiality agreements. Adocia seeks monetary damages of over USD 200 million, as well as equitable and injunctive relief. Adocia anticipates a decision on these claims by the third quarter of 2018.

Adocia had previously announced in October 2017 that it commenced an arbitration proceeding against Lilly arising out of the collaborative research and license agreement signed in 2014, seeking an award of approximately USD 11 million, and other specific relief, relating to Lilly’s change of the product development plan.

Adocia continues to expect a decision on this claim in the second quarter of 2018. Adocia will provide no additional comment on these private proceedings until their conclusion.


About Adocia

Adocia is a clinical-stage biotechnology company that specializes in the development of innovative formulations of already-approved therapeutic proteins and peptides. Adocia’s portfolio of injectable treatments for diabetes, featuring five clinical-stage products and three preclinical products, is among the largest and most differentiated of the industry. Adocia expanded its portfolio to develop treatments for obesity and short bowel syndrome.

The proprietary BioChaperone® technological platform is designed to enhance the effectiveness and/or safety of therapeutic proteins while making them easier for patients to use. Adocia customizes BioChaperone to each protein for a given application to address specific patient needs.

Adocia’s clinical pipeline includes four novel insulin formulations for the treatment of diabetes: two ultra-rapid formulations of insulin analog lispro (BioChaperone Lispro U100 and U200), a rapid-acting formulation of human insulin (HinsBet U100) and a combination of basal insulin glargine and rapid-acting insulin lispro (BioChaperone Combo). An aqueous formulation of human glucagon (BioChaperone Human Glucagon) successfully completed a Phase 1 trial. Adocia also develops a prandial combination of human insulin with amylin analog pramlintide (BioChaperone Pramlintide hIns), two combinations of insulin glargine with GLP-1 receptor agonists (BioChaperone Glargine Dulaglutide and BioChaperone Glargine Liraglutide), a ready-to-use aqueous formulation of teduglutide (BioChaperone Teduglutide) and a ready-to-use combination of glucagon and exenatide (BioChaperone Glucagon Exenatide), all of which are in preclinical development.

Adocia aims to deliver “Innovative medicine for everyone, everywhere.”

To learn more about Adocia, please visit us at www.adocia.com


For more information please contact:

Adocia
Gérard Soula
Chairman and CEO
contactinvestisseurs@adocia.com
Ph. : +33 4 72 610 610

Adocia
Press Relations Europe
MC Services AG
Raimund Gabriel
adocia@mc-services.eu
Ph.: +49 89 210 228 0

Adocia
Press Relations USA
Prosek Partners
Andy Merrill
amerrill@prosek.com
Ph. : +1 212 279 3115

Adocia
Investor Relations USA
The Ruth Group
Tram Bui
t.bui@theruthgroup.com
Ph. : +1 646 536 7035


Disclaimer

This press release contains certain forward-looking statements concerning Adocia and its business. Such forwardlooking statements are based on assumptions that Adocia considers to be reasonable. However, there can be no assurance that the estimates contained in such forward-looking statements will be verified, which estimates are subject to numerous risks including the risks set forth in the “Risk Factors” section of the Reference Document filed with the French Autorité des marchés financiers on April 11, 2017 (a copy of which is available on www.adocia.com) and to the development of economic conditions, financial markets and the markets in which Adocia operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Adocia or not currently considered material by Adocia. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Adocia to be materially different from such forward-looking statements. This press release and the information contained herein do not constitute an offer to sell or the solicitation of an offer to buy Adocia shares in any jurisdiction.

   
Record changed: 2018-02-16

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