Spexis AG: PARI Pharma GmbH Announces Termination of ColiFin® License to EnBiotix, Inc.

Spexis AG (SIX: SPEX) announced that PARI Pharma GmbH has terminated the ColiFin® license to EnBiotix, Inc., a wholly-owned subsidiary of Spexis. The termination follows EnBiotix's non-payment of a required license fee to PARI.

The assets and shares of EnBiotix and another Spexis subsidiary, Spexis Australia Pty Ltd, were placed under receivership by SPRIM due to an alleged loan default, which Spexis disputes. In response, Spexis is negotiating with SPRIM for a debt-restructuring and aiming to obtain a court moratorium by 23 July 2024.

Spexis plans to re-license ColiFin® from PARI, contingent on successful debt-restructuring and additional financing. This move is part of their broader strategy to exit from the moratorium and improve shareholder returns.