ESPERITE (ESP) announces termination of MoU regarding proposed sale of stem cell banking business to PBKM due to lack of agreement on the terms of the sale
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Amsterdam, The Netherlands – 29 May 2019
Esperite N.V. (Euronext: ESP, “Esperite”) announces today that the Memorandum of Understanding (MoU) between Esperite and Polski Bank Komórek Macierzystych S.A. (WSE: PBKM, “PBKM”) regarding the proposed sale of substantially all Cryo-Save’s business related to stem cell banking (the Proposed Sale) has been terminated due to parties’ lack of agreement on the terms of the sale. As a result, the exclusivity granted by Esperite to PBKM in relation to the Proposed Sale also terminated with immediate effect. The board of directors of Esperite is currently evaluating a broad range of strategic alternatives for its stem cell banking business.
The termination of the MoU does not affect the partnership between Esperite and PBKM (as announced on 22 February 2019) in relation to the storage of Cryo-Save’s stem cells by PBKM in its state of the art and fully secured laboratories in Warsaw, Poland. The Back-Up and Storage Agreement entered into by the parties on 21 February 2019 will remain in place for its initial term of 5 years, and may be extended by the mutual consent of the parties.
About ESPERITE
ESPERITE group, listed at Euronext Amsterdam and Paris, is a leading international company in regenerative and precision medicine founded in 2000.
To learn more about the ESPERITE Group, or to book an interview with CEO Frédéric Amar: +31 575 548 998 - [email protected].
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This press release contains inside information as referred to in article 7 paragraph 1 of Regulation (EU) 596/2014 (Market Abuse Regulation).
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