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Published: 2022-10-27 09:01:10 CEST
Nasdaq Tallinn
Announcement from the exchange

J. Molner AS comment about the tenure of Jason Grenfell-Gardner at Teligent, Inc


On October 27, 2022, Eesti Päevaleht published an article based on public records, concerning a 2020 court case of Oklahoma Police Pension Fund and Retirement System vs Teligent, Inc and Jason Grenfell-Gardner, previously the CEO of Teligent, Inc. The case ended in a settlement and the parties agreed that there was no fault.

Follows a comment by Jason Grenfell-Gardner, currently Member of the Management Board of J. Molner AS:

“J. Molner AS is an independent company and not related to Teligent, Inc. In 2020, J. Molner acquired the lab that Teligent built in 2015 in Tallinn. It’s a modern and well-equipped lab for world-class research. It meets the standards required to develop and release pharmaceutical products on the basis of EU and FDA Good Manufacturing Practices.

My past role in Teligent is described in the company description and during my tenure, the revenue of Teligent grew from USD 5 million per year to USD 66 million, and the total drug portfolio grew from zero in 2012 to 79 in 2020. In the same the company had some challenges I personally have drawn lessons from. I left the post of CEO of Teligent, Inc on February 4, 2020.

The Teligent case ended in a settlement and the parties agreed that there was no fault. Teligent’s filings in the case are public and all statements about the case had to be limited to the litigation process.

As stated in the Company Description of J. Molner AS, the Management Board warrants that Molner Group (J. Molner AS and its subsidiaries) is currently not involved in any ongoing and has not in previous reporting periods been involved in any court proceedings, tax or other disputes.”

Jason Grenfell-Gardner

Member of the Management Board

J. Molner AS