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AegirBio AB's subsidiary initiates arbitration against Salofa Oy

AegirBio AB’s ("AegirBio" or the "Company") subsidiary Magnasense Technology Oy ("Magnasense") has today decided to initiate arbitration proceedings against Salofa Oy ("Salofa") due to Salofa's failure to comply with its obligations under the agreement entered into on July 7, 2023.

AegirBio announced through a press release on July 7, 2023,that a license and distribution agreement was entered into between AegirBio’s subsidiary Magnasense and Salofa whereby Salofa was given access to MagniaReader and MagnetoImmunoAssay (MIA) for its own development of tests in veterinary medicine. Under the agreement, AegirBio, via Magnasense, would sell its existing MagniaReader to Salofa, who would bring it to the market with proprietary tests for horses, dogs and cats. Magnasense would then receive revenues from the sale of instruments and royalties on the tests that Salofa sells for the instruments.

Salofa has not complied with its obligations under the agreement. In light of this, the Company, having exhausted the possibilities for dialogue, has today decided to initiatearbitration proceedings through its subsidiary Magnasense.

About Aegirbio

AegirBio is a Swedish diagnostics company founded in 2019 to offer tests to monitor and optimize the dosage of biological drugs via its unique patented technology platform. In June 2020, AegirBio was listed on the Nasdaq First North Growth Market. The company's ambition is, in addition to bringing innovative diagnostic technology to the market, to make diagnostics more accessible, easier to use and to provide accurate and easily transferable results. For more information, see Aegirbio's website

The company's Certified Adviser is Eminova Fondkomission AB;

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