AOP-ORPHAN-PHARMA
25.3.2021 22:07:10 CET | Business Wire | Press release
Since 2017, PharmaEssentia had repeatedly attempted to terminate the agreement with AOP Orphan concerning BESREMi® (Ropeginterferon alfa-2b). After two and a half years of arbitral proceedings, in October 2020, the ICC Arbitral Tribunal issued its award in the matter. The arbitral award states that PharmaEssentia’s multiple attempts to terminate the agreement were unjustified, and that AOP Orphan is entitled to payment of damages of approximately EUR 142 million for project delays caused by PharmaEssentia.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210325005949/en/
In December 2020, PharmaEssentia filed an application to set aside this arbitral award with the Frankfurt Higher Regional Court, arguing that the award violated public order and PharmaEssentia’s right to be heard. The Frankfurt Higher Regional Court, a German court with major experience in handling this kind of proceedings, called a hearing within less than two months of PharmaEssentia’s filing its setting aside application.
Award declared enforceable
Today, the Frankfurt Higher Regional Court announced its decision. As anticipated, the Court dismissed PharmaEssentia's set aside application, confirming that both parties had sufficient opportunity to be heard, that all evidence brought before the Arbitral Tribunal was duly taken into consideration, and that the public order was fully respected.
Thus, the award as issued by the ICC Arbitral Tribunal in October 2020 has now been declared enforceable by Frankfurt Higher Regional Court, and AOP Orphan can pursue its enforcement in Germany and elsewhere. An appeal to the German Supreme Court is possible but would not hinder the enforcement of the award.
Rudolf Widmann, Chief Therapeutics Development Officer and Member of the Board of AOP Orphan, explains: “AOP Orphan has always complied with its contractual obligations and is entitled to compensation by PharmaEssentia, following their repeated attempts to boycott the joint project and success of BESREMi®. We encourage PEC to accept the arbitral award and work towards cooperative efforts to exploit the full value of BESREMi® in the interest of patients and stakeholders of both companies. AOP Orphan has tried to find solutions several times - I would have preferred to invest time and money into making this highly promising drug available to patients with blood cancer, instead of investing it into expensive lawsuits.”
About BESREMi®
BESREMi® is a long-acting, mono-pegylated proline interferon (ATC L03AB15). Its unique pharmacokinetic properties offer a new level of tolerability. BESREMi® is designed to be conveniently self-administered subcutaneously with a pen once every two weeks, or monthly after stabilization of hematological parameters. This treatment schedule is expected to lead to overall better safety, tolerability and adherence compared to conventional pegylated interferons. Ropeginterferon alfa-2b was discovered by PharmaEssentia, a long-term partner of AOP Orphan. In 2009, AOP Orphan in-licensed the exclusive rights for clinical development and commercialization of Ropeginterferon alfa-2b in PV and other MPNs for European, Commonwealth of Independent States (CIS), and Middle Eastern markets.
For the EMA Summary of Product Characteristics please visit: https://www.ema.europa.eu/en/documents/product-information/besremi-epar-product-information_en.pdf
AOP Orphan Pharmaceuticals AG is an international pharmaceutical company with its headquarters in Vienna and a focus on rare and special diseases. Over the past 25 years, the company has become an established provider of integrated therapy solutions from its headquarters in Vienna. This development has been made possible by a continually high level of investment in research and development on the one hand and a highly consistent and pragmatic orientation towards the needs of all our stakeholders on the other - especially the patients and their families but also the doctors and care professionals treating them. In the third quarter of 2020, AOP Orphan took over Amomed Pharma GmbH and SciPharm S.a.r.l., two European health care companies, thus continuing its consistent path of growth into a pan-European health care group specializing in special diseases with complex management.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210325005949/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
The Only AI Crypto Lead Prioritization Solution Built With Law Enforcement, for Law Enforcement: Elliptic Launches Pulse24.9.2026 15:15:00 CEST | Press release
Pulse delivers actionable leads in seconds, no crypto expertise required, enabling decisions in the field Elliptic, the global leader in on-chain risk, today launched Pulse. Pulse puts crypto lead prioritization directly in the hands of every frontline law enforcement and government officer. Crypto now touches every part of law enforcement, from the patrol officer on the street to the detective assigned to investigate the case. Pulse gives each of them a quick, accurate financial summary and a starting point: whether that's a crypto address on a suspect's phone, in a scam ATM victim's receipt, uncovered during a vehicle or pocket search, or found at the scene of an overdose, an arrest, or a seizure. An officer can input anything that looks like a wallet address or transaction hash. Pulse identifies it, reasons over the result, and returns a summary in plain language, enough for the officer to decide on the spot whether the case needs escalation. If a case needs further investigation, o
Just 4.7% of Financial Institutions Continuously Update Their Compliance Monitoring and Controls as Risk Changes, New Research Finds24.9.2026 15:04:00 CEST | Press release
As financial crime threats, regulations and transaction volumes evolve dynamically, most compliance programs remain built around periodic review SymphonyAI, a global leader in vertical AI product platforms, and AML Intelligence, the leading source of news and insight for the financial crime compliance community, today released the FinCrime Frontier 2026–27 Report, finding that most financial institutions still rely on periodic review cycles to manage financial crime risk, even as the threats and regulations they are meant to track continue to evolve dynamically. Based on the perspectives of more than 200 financial crime and compliance leaders, including senior leaders from major global financial institutions, the research finds that just 4.7% of financial institutions continuously update their compliance monitoring and controls as risk changes, while 56.8% have not adopted always-on compliance monitoring at all, are only exploring it, or remain at an early, pilot-stage level. The findi
SymphonyAI Introduces Symphony Risk Intelligence, an Agent-native Platform That Unlocks Always-on Compliance™ — the Catalyst for Transforming the Financial Crime Operating Model24.9.2026 15:04:00 CEST | Press release
New industry research finds just 4.7% of financial institutions continuously update their compliance monitoring and controls as risk changes, a gap regulators are now pushing institutions to close SymphonyAI today introduced Symphony Risk Intelligence (SRI), an enterprise-grade, agent-native platform built to unlock Always-on Compliance™. This is a critical shift from periodic to continuous risk and compliance management, in which institutions continuously reassess risk and adapt controls as regulations, threats and business activity change, rather than waiting for the next scheduled review. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260924914614/en/ Current approaches have reached their structural limits. The FinCrime Frontier 2026–27 Report, released recently by SymphonyAI and AML Intelligence, finds just 4.7% of financial institutions continuously update their compliance monitoring and controls as risk changes, and 76
Boomi Appoints Mike Hickman as Chief Financial Officer24.9.2026 15:00:00 CEST | Press release
Three-decade technology finance leader joins Boomi to scale global operations, bringing experience across IPO, take-private, and large-scale acquisition integration Boomi, the data activation company for AI, today announced the appointment of Mike Hickman as Chief Financial Officer. Hickman will lead Boomi's global finance and accounting organization, spanning financial planning and analysis, accounting, treasury, tax, and financial reporting. He reports to Boomi Chairman and Chief Executive Officer Steve Lucas. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260924761566/en/ Boomi Appoints Mike Hickman as Chief Financial Officer Hickman brings three decades of senior finance leadership in high-growth SaaS and technology companies, with experience across the full corporate lifecycle: scaling through IPO, executing a take-private, and integrating large acquisitions. He joins from Proofpoint, where he spent seven and a half yea
Altasciences Supports 4B Healthcare in Advancing Steroid Nasal Irrigation Rinse to Clinical Trials24.9.2026 14:40:00 CEST | Press release
Altasciences is proud to announce that recent formulation work supporting 4B Healthcare Inc. (“4B”) has helped advance its RhineX nasal irrigation rinse therapy into clinical investigation. Following several months of formulation development, R&D manufacturing, stability testing, and quality assurance support at Altasciences’ CDMO facility in Harleysville, PA, the Tennessee-based pharmaceutical company has received FDA clearance to proceed with clinical testing of RhineX under its IND. First subject dosing is planned for October 2026, approximately seven months after formulation development began. "The concept for RhineX grew out of a problem I have seen in my own ENT practice for years—the need for a better treatment option for allergic rhinitis when conventional medical therapy is not enough,” said Brannon Mangus, MD, Co-Founder and CEO of 4B. “We founded 4B Healthcare to take that physician insight and turn it into a pharmaceutical product that could meaningfully change how these pa
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom