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Adocia S.A.. (8/20/18). "Press Release: American Arbitration Association Panel Finds In Favor Of Adocia In First Phase Of Arbitration Against Eli Lilly". Lyon.

Region Region United States (USA)
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
Person Person Soula, Gérard (Adocia 201201 CEO + co-founder also founder of Flamel Technologies)
     


> Adocia is awarded USD 11.6 million in damages

> Adocia will separately seek interest, litigation fees and costs in addition to the damages awarded

> In the second phase, Adocia’s additional claims for misappropriation and misuse of Adocia’s confidential information and discoveries are set for trial in December 2018


Adocia (Euronext Paris: FR0011184241 – ADOC), the biopharmaceutical company focused on the treatment of diabetes and other metabolic diseases with innovative formulations of approved proteins, announced today that the Arbitration Panel presiding over Adocia’s arbitration claims against Eli Lilly & Company (“Lilly”) has found in favor of Adocia on the first of the claims to be resolved, awarding Adocia USD 11.6 million, as compensation to Adocia for having earned a disputed contractual milestone payment. Adocia will separately submit claims for interest, litigation fees and costs in this proceeding.

Adocia’s additional claims against Lilly for misappropriation and misuse of Adocia’s confidential information, filed in January 2018, remain pending and are set for hearing in December 2018, with a decision anticipated in 2019. Adocia will report further as appropriate.

“We are pleased that the arbitral tribunal viewed the evidence consistent with Adocia’s belief that Lilly owed Adocia the disputed contractual payment.” commented Gérard Soula, Chairman and CEO of Adocia. “We pursue with the same conviction, in the second phase, Adocia’s separate claims for misappropriation and misuse of Adocia’s confidential information and discoveries.”


About Adocia

Adocia is a clinical-stage biotechnology company that specializes in the development of innovative formulations of already-approved therapeutic proteins and peptides for the treatment of diabetes and other metabolic diseases.

Adocia’s portfolio of injectable treatments for diabetes, featuring six clinical-stage products and two preclinical products, is among the largest and most differentiated of the industry. Adocia also recently 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. 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 combination of basal insulin glargine and rapid-acting insulin lispro (BioChaperone Combo), a rapid-acting formulation of human insulin (HinsBet U100), and a prandial combination of human insulin with amylin analog pramlintide (BioChaperone Pramlintide Insulin). It also includes an aqueous formulation of human glucagon (BioChaperone Glucagon) for the treatment of hypoglycemia. Additionally, Adocia develops 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 GLP-1 RA (BioChaperone Glucagon GLP1), all of which are in preclinical development.

Adocia and Tonghua Dongbao recently entered a strategic alliance. In April 2018, Adocia granted Tonghua Dongbao licenses to develop and commercialize BioChaperone Lispro and BioChaperone Combo in China and other Asian and Middle-Eastern territories. The licensing included a $50M upfront and up to $85M development milestones, plus doubledigit royalties on sales. In June 2018, Tonghua Dongbao agreed to manufacture and supply insulin lispro and insulin glargine to Adocia globally, excluding China.

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


Disclaimer

This press release contains certain forward-looking statements concerning Adocia and its business. Such forward-looking 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 19, 2018 (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 forwardlooking 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: 2018-09-03

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