Asieris Pharmaceuticals and its wholly-owned subsidiary Asieris Meditech Hong Kong Co., Ltd. have been taken to arbitration by Photocure before the American Arbitration Association over a dispute concerning milestone payments under the APL-1702 license agreement, with Photocure seeking 4.4 million dollars plus interest. Photocure granted Asieris an exclusive worldwide license for APL-1702, and the company had previously paid all triggered milestone amounts. Following the approval and launch of APL-1702, marketed as CEVIRA, in China in March 2026, Asieris paid 6.6 million dollars in April 2026, but contends that this approval did not trigger the full 11 million dollar payment obligation for that milestone, whereas Photocure asserts that the payment conditions have been met. In the first quarter of 2026, Asieris reported revenue of 71.09 million yuan and a net loss attributable to the parent company of 112 million yuan.
Photocure ASAPhotocure is seeking $4.4 million in arbitration from Asieris for unpaid milestone payments, which could result in a financial gain.
Jiangsu Yahong Meditech Co. Ltd.Asieris is being taken to arbitration by Photocure over a $4.4 million milestone payment dispute, creating legal and financial uncertainty.