ASIT biotech Obtains the Benefit of the Judicial Reorganization by Collective Agreement
12 Février 2020 - 7:00AM
Business Wire
Regulatory News:
ASIT biotech (BSE:ASIT) (Paris:ASIT) (ASIT -
BE0974289218), a clinical stage biopharmaceutical company
focused on the research and development of breakthrough
immunotherapy, obtains the benefit of the judicial reorganization
by collective agreement in execution of the judgment delivered on
February 11, 2020 by the Commercial Court of Liège1 in application
of the law of August 11, 2017 inserting Book XX "Insolvency of
Enterprises" in the Code of economic law (hereinafter the "Law"),
as well as a suspension of payment expiring on 11th June 2020.
According to the Law, ASIT biotech will establish a plan of
judicial reorganization explaining its proposal regarding the
conditions under which the Company’s creditors will be repaid. This
plan will be deposit in the central solvency register at least 20
days prior to the 26th May 2020 audience where it will be submitted
to the approval of the Company’s creditors.
This judicial reorganization’s procedure is an important step
allowing the management of ASIT biotech to explore strategic
options to preserve the interests of the creditors and shareholders
to the maximum extent possible.
***
About ASIT biotech
ASIT biotech is a Belgian clinical stage biopharmaceutical
company focused on the development and future commercialization of
a range of breakthrough immunotherapy products for the treatment of
allergies. Thanks to its innovative ASIT+™ technology platform,
ASIT biotech is currently the only developer of allergy
immunotherapy (AIT) product candidates consisting of a unique
mixture of highly purified natural allergen fragments in an optimal
size selection. This innovation results in a short treatment,
expected to improve patient compliance and real-life effectiveness.
ASIT biotech’s product pipeline contains three novel ASIT+™ product
candidates targeting respiratory allergies with the highest
prevalence (i.e. grass pollen: gp-ASIT+™ - in ongoing phase III -
and house dust mite: hdm-ASIT+™), and food allergies (peanut
allergy: pnt-ASIT+™) that could significantly expand the current
immunotherapy market. The Company believes that its innovative
ASIT+™ platform is flexible and would be applicable across a range
of allergies.
Further information can be found at www.asitbiotech.com.
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Legal notice
This announcement is for information purposes only and does not
constitute an offer to sell or a solicitation of an offer to buy or
subscribe for the Company’s shares in any jurisdiction. This
announcement does not constitute a prospectus. Any purchase of,
subscription for or application for, Shares to be issued in
connection with the intended offering should only be made on the
basis of information contained in the prospectus and any
supplements thereto, as the case may be.
Forward-looking statements
This release may contain forward-looking statements. Such
forward-looking statements are not guaranteeing future results.
These forward-looking statements speak only as of the date of
publication of this document. The Company expressly disclaims any
obligation to update any forward-looking statements in this
document, unless specifically required by law or regulation.
1 Judgment delivered on February 11, 2020 is available on the
company website
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version on businesswire.com: https://www.businesswire.com/news/home/20200211005962/en/
Michel Baijot, CEO ASIT biotech Tel.: +32 2 264 03 90
investors@asitbiotech.com