Esperite (ESP) announces that Genoma SA filed appeal to the decision ruled by the Swiss Court
Genoma has filed appeal to the decision of liquidation taken on May 4th 2017. Genoma considers this decision arbitrary due to the circumstances of the commercial and legal relationship with Premaitha.
Zutphen, The Netherlands, 19 May 2017
Genoma has concluded with Premaitha an agreement in March 15th 2015 for the supply of the genetic test Iona. The implementation of this contract implied significant investment specifically related to the use of the IONA Kits. Genoma represented 65% of Premaitha's business in 2015/16.
Genoma was forced to discontinue using the Premaitha Iona test some weeks after the serious legal claim against Premaitha's technology by Illumina (Patent Infringement). Premaitha has not been able to demonstrate that the Iona test doesn't infringe Illumina's patents.
Genoma blocked payments to Premaitha, a total of +€900k for several reasons:
A considerable amount has been claimed for failure in the supply;
Illumina sued Genoma for patent infringement because of the use of Premaitha's Iona;
Premaitha never offered valid support for defence despite they were selling a patent infringing product.
The British supplier sent several summons for payment and finally obtained a court decision ruling for the bankruptcy of Genoma officially on May 4th 2017. The official register was updated on the 9th of May 2017.
ESPERITE Group, listed at Euronext Amsterdam.
Esperit EUR 0,50 -6ct vol. 475.768