Sillajen Agrees to Pay Fortis Advisor 5.5 Bil. Won in Milestones

Sillajen announced on Oct. 19 that it has settled a lawsuit with Fortis Advisor LLC by agreeing to pay the U.S. company 5.5 billion won worth of milestones.

Fortis Advisor is a service company that represents shareholders of U.S. company Jennerex, which was acquired by Sillajen in 2013.

These former shareholders filed a lawsuit with the U.S. Delaware Superior Court on Sept. 19, 2018, demanding Sillajen pay US$34 million in contingent milestones that were not paid after the acquisition of Jennerex.