GenMont Biotech, Ewelle Biomedical Share Exchange Case: Strong Bio-Pharmaceutical Withdraws Urgent Disposition Application
Genovate announced on May 11 that shareholder Johnson Chemical has withdrawn its petition for an emergency injunction regarding Genovate's proposed share swap with EirGenix. However, Johnson Chemical's parallel application for a provisional injunction against the deal, which was approved by shareholders on April 22, remains under court review.
📋 Article Processing Timeline
- 📰 Published: May 12, 2026 at 00:18
- 🔍 Collected: May 12, 2026 at 00:32 (13 min after Published)
- 🤖 AI Analyzed: May 12, 2026 at 01:07 (35 min after Collected)
GenMont Biotech announced this evening that it received notice this afternoon from its shareholder, Strong Bio-Pharmaceutical, regarding the withdrawal of an urgent disposition application filed concerning the share exchange plan between GenMont and Ewelle Biomedical. However, the temporary injunction filed by Strong Bio-Pharmaceutical is still under review by the court.
Strong Bio-Pharmaceutical had previously applied to prohibit GenMont from executing or proceeding with the share exchange plan with Ewelle Biomedical, and the delisting of GenMont, which was approved at a shareholder meeting on April 22 this year. Strong Bio-Pharmaceutical withdrew its urgent disposition application this afternoon.
GenMont held a shareholder meeting on April 22 this year, focusing on the share exchange plan with Ewelle Biomedical, which was ultimately approved by a majority vote. However, GenMont received a notice from the Intellectual Property and Commercial Court on April 30, indicating that Strong Bio-Pharmaceutical was requesting to prohibit GenMont from executing or proceeding with the share exchange plan with Ewelle Biomedical before the finalization of the lawsuit.
GenMont stated that in addition to filing for a temporary injunction, Strong Bio-Pharmaceutical also simultaneously petitioned the court for an urgent disposition, hoping to provisionally prohibit the company from advancing related procedures before the court's formal ruling. However, GenMont received notice this afternoon that Strong Bio-Pharmaceutical had withdrawn the aforementioned urgent disposition application.
GenMont stated that the company has commissioned lawyers to handle subsequent matters according to legal procedures and to implement relevant countermeasures.
Strong Bio-Pharmaceutical had previously applied to prohibit GenMont from executing or proceeding with the share exchange plan with Ewelle Biomedical, and the delisting of GenMont, which was approved at a shareholder meeting on April 22 this year. Strong Bio-Pharmaceutical withdrew its urgent disposition application this afternoon.
GenMont held a shareholder meeting on April 22 this year, focusing on the share exchange plan with Ewelle Biomedical, which was ultimately approved by a majority vote. However, GenMont received a notice from the Intellectual Property and Commercial Court on April 30, indicating that Strong Bio-Pharmaceutical was requesting to prohibit GenMont from executing or proceeding with the share exchange plan with Ewelle Biomedical before the finalization of the lawsuit.
GenMont stated that in addition to filing for a temporary injunction, Strong Bio-Pharmaceutical also simultaneously petitioned the court for an urgent disposition, hoping to provisionally prohibit the company from advancing related procedures before the court's formal ruling. However, GenMont received notice this afternoon that Strong Bio-Pharmaceutical had withdrawn the aforementioned urgent disposition application.
GenMont stated that the company has commissioned lawyers to handle subsequent matters according to legal procedures and to implement relevant countermeasures.