Asieris Pharma and its wholly-owned subsidiary have filed an arbitration counterclaim with the American Arbitration Association, demanding that Photocure return 6.6 million dollars and pay interest plus arbitration-related costs. Earlier, in July 2026, Photocure initiated arbitration, alleging that Asieris failed to pay the milestone payment triggered by the approval of APL-1702 in China as agreed, while Asieris believes this approval did not trigger the full 11 million dollar payment obligation for the corresponding milestone. Asieris stated that in April 2026, it paid 6.6 million dollars in good faith and explicitly reserved relevant rights. Currently, neither the arbitration nor the counterclaim has been heard, and the impact on the company's profits remains uncertain.
Photocure ASAPhotocure faces a counterclaim demanding return of $6.6M plus interest and costs, adding legal uncertainty.
Jiangsu Yahong Meditech Co. Ltd.
