Arbitral award rendered in favour of Xintela in dispute with former underwriters

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: [email protected]
Medicon Village
223 81 Lund, Sweden

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, [email protected].