Düsseldorf, March 14, 2024

bioXXmed AG fails with its directors’ and officers’ liability suit against former Management Board and Supervisory Board.
Rellermeyer successfully represents the former members of the Management Board

All allegations made by financial investor bioXXmed AG (formerly CytoTools AG) against former members of the Management Board and Supervisory Board in an extensive directors’ and officers’ liability suit are unfounded, according to a ruling by Darmstadt Regional Court. This means that the administration of bioXXmed AG appointed in September 2022 by the new majority shareholder Wilhelm K. Zours in September 2022 with its attacks against the predecessors in office. For Wilhelm K. Zours, bioXXmed AG was not the first case in which he acquired an (indirect) majority in a listed AG and in which the management appointed by him subsequently attempted to attack its predecessors.

In the case of bioXXmed AG, it initially looked as if economic reason would gain the upper hand. A unification agreement concluded on March 8, 2022 between CytoTools AG, DermaTools Biotech GmbH and its initiators around the current Managing Director Dr. Dirk Kaiser and the former Managing Director Dr. Mark Freyberg paved the way for the successful development of the product DermaPro®. Rellermeyer represented the DermaTools initiators and former CytoTools board members Dr. Kaiser and Dr. Freyberg in the lengthy negotiations that led to the unification agreement.

Soon after the conclusion of the unification agreement, however, the new management of bioXXmed AG sparked a dispute over the direction of the development of DermaPro® , which ended in DermaTools filing for insolvency at the end of 2023. Now bioXXmed AG also failed in its lawsuit against the former members of the Management Board and Supervisory Board before the Darmstadt Regional Court, against whom it had made serious allegations in connection with their conduct in office and had also publicly disseminated some of these allegations. The Darmstadt Regional Court dismissed all eight defendants’ claims as unfounded in all respects. Neither the former members of the Management Board nor the former members of the Supervisory Board could be accused of misconduct in even one of the points of attack.

The former board members were represented by Rellermeyer, who were once again successful in a directors’ and officers’ liability suit.