Biotech company Diagenics Group SE files suit against BaFin for inaction

openPR) Diagenics Group SE, a European biotech company from Luxembourg/Essen, which has developed early diagnostic tests for neurology, gynecology and cardiology as well as Covid, has now filed a lawsuit against the federal supervisory financial authority BaFin for inaction with the responsible administrative court in Frankfurt/Main, Germany. The response to the company's objection, which has been requested for several months, refers to the prohibition order of October 2023, which was issued on the basis of suspicion and which the company and its lawyers consider to be unlawful. With this order, the supervisory authority had prohibited the Luxemburg biotech company from offering shares in Germany without a prospectus under threat of a fine. The company is now defending itself against the fact that the extensive and detailed justification of the objection, submitted by an internationally experienced law firm, was not answered within a reasonable period of time.

Luxemburg - Essen - Frankfurt on June 13, 2024, the company, through its lawyers, filed a lawsuit against BaFin with the Administrative Court of Frankfurt for inaction. According to the documents, the supervisory authority had expressed the formal suspicion, and published it worldwide despite several clear objections from the lawyers and the company, without first obtaining factual information, and did not retract this publication, claiming that the company would offer shares to the public without a prospectus exemption. The company has now filed a legal step against the inaction of the supervisory authority for the unreasonable lack of a timely response regarding the detailed justifcation of the objection filed by the company and their lawyers since several months.

Over ten years ago, the company was successful against a pharmaceutical giant, the pharmaceutical company Roche, which had copied Diagenics' patents. At that time, Roche's plagiarized patents were revoked and deleted by the European Patent Office following Diagenics' successful intervention.

Diagenics can be contacted for questions you may have as follows:

diagenics.com

WirtschaftsWoche article https://www.wiwo.de/technologie/medizin-herzinfarkte-schneller-erkennen-seite-2/5245372-2.html

Diagenics Group SE
Alfredstrasse 98
45131 Essen
Germany

Marketing Team
Phone +49 201 874 29 500
Fax +49 201 874 29 510
Mail: info@diagenics.com
Web: www.diagenics.com

Diagenics is a biopharmaceutical company with offices and partners in Europe and the USA and is a pioneer in innovative diagnostics for the early detection of important diseases such as stroke, preeclampsia (a disease that affects 7-8% of pregnancies in the Western world) and myocardial infarction (ACS). This early detection is based on a new and innovative biomarker developed by Diagenics Group SE. The diagnostic results are faster and more accurate, which in turn is cost-effective and reduces the frequency of misdiagnoses.

This release was published on openPR.