Faron Pharmaceuticals (LON: FARN) announced Tuesday that it has won its arbitration case against Rentschler Biopharma SE.
The arbitration tribunal appointed by the Arbitration Institute of the Stockholm Chamber of Commerce (SCC) ruled in favor of Faron.
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The clinical-stage biopharmaceutical company was awarded €3.8 million after seeking damages from Rentschler for the unfounded termination of an agreement concerning the manufacturing process for Faron’s drug Traumakine.
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“As previously communicated, a third-party recovery services provider funded the proceedings for Faron. The funder will receive compensation from Faron in accordance with the litigation funding agreement,” the company said.
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