Biora terminates its License Agreement with Medpharma
Biora terminates its License Agreement with Medpharma plc Following the non-payment by Medpharma plc (UK) of license fees due to Biora in the first quarter of 2003, the Company has decided to terminate its license agreement with Medpharma for the xerostomia (dry mouth) project targeted to groups other than dentists and dental specialists. Biora has a claim against Medpharma for the unpaid license fees in the amount of USD 500,000 plus interest. This amount has not been accounted in previous reporting periods. In addition, Biora may be entitled to additional damages. Biora has not yet decided what further actions to take in regards to the termination of the Medpharma license agreement. Biora develops manufactures and sells biotechnology-based products to dentists. Its principal product, Emdogain®Gel, which is approved for sale in Europe, North America and Japan among others, naturally regenerates tooth-supporting structure that the tooth has lost due to periodontitis. Biora's shares are listed on the "O-list" of the Stockholm Stock Exchange in Sweden. This press release may contain certain forward- looking statements that relate to future events or future business and financial performance. Such statements can only be predictions and the actual events or results may differ from those discussed. The Company cautions that these statements are subject to important factors that could cause actual results to differ materially from those expressed or implied in such forward looking statements and are more fully discussed in periodic reports filed with Securities and Exchange Commission. For further information, please contact: - Svante Lundell, CFO and Investor Relations, Biora +46-70 532 30 65 - Donna Janson, President and CEO of Biora, tel: +46- 40-32 12 28 - http://www.biora.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/04/02/20030402BIT01180/wkr0001.doc http://www.waymaker.net/bitonline/2003/04/02/20030402BIT01180/wkr0002.pdf