Subsidiaries of Vita 34 Reach Agreement with US Licensor

Leipzig, 9 August 2024 – Vita 34 AG has announced that its subsidiaries, FamiCordTx S.A. and Polski Bank Komórek Macierzystych sp. z o.o. (PBKM), have reached an agreement with a U.S. biotechnology company, resolving a prior lawsuit.

The dispute began on 27 September 2023 when FamiCordTx and PBKM filed a legal action due to the Licensor's failure to comply with a CAR-T technology license agreement essential for cancer immunotherapy development. The litigation alleged material breach of the agreement by the Licensor.

After continuous negotiations, the parties finalized a termination agreement of the original license and established a new know-how licensing agreement. This new deal ensures FamiCordTx and PBKM retain access to necessary CAR-T technology, with reduced royalty payments for commercial use or sale without milestone payments.