VANCOUVER, British Columbia, July 23, 2019 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Veritas Pharma Puerto Inc. has announced that it has reached a settlement with Arbutus Biopharma Corporation with respect to the litigation commenced by Arbutus. The claims relate to a commercial lease space, which Veritas no longer believes is necessary for its R&D.
As a part of the mutual settlement, no party has admitted any liability and there has not been any court finding as to the merits of the lawsuit. However, to avoid the expense, burden and uncertainty of the lawsuit, Veritas has entered into a confidential settlement that will resolve the litigation completely.
Veritas’ interim CEO and CFO Peter McFadden commented, “I am pleased that we have been able to reach an amicable agreement that enables the management to continue to focus on creating value for our shareholders."
