SELLAS loses arbitration against 3D Medicines over GPS milestone dispute
An HKIAC arbitrator sided with 3D Medicines and ordered SELLAS to pay about $1.0 million toward its legal costs, while $191.5 million in milestone payments remain under the license deal.
SELLAS Life Sciences Group disclosed in an 8-K dated July 24, 2026 that a Hong Kong International Arbitration Centre arbitrator ruled against the company in its dispute with 3D Medicines, Inc. The company had commenced a binding arbitration against 3D Medicines through HKIAC, and on July 24, 2026 the sole arbitrator issued a ruling dismissing SELLAS's claims.1 Under HKIAC rules, the arbitrator also assigned SELLAS responsibility for roughly $1.0 million of 3D Medicines' legal fees and costs.1
The dispute centered on the companies' exclusive license covering galinpepimut-S, known as GPS, in Greater China. 3D Medicines said it plans to keep advancing GPS's development and commercialization in that territory under the existing license terms, which as of March 31, 2026 still carry up to $191.5 million in potential future milestone payments, a figure that includes the $13.0 million in milestones that had been contested in the arbitration.1
On the financial side, SELLAS also reported a preliminary cash figure for the first half of 2026. As of June 30, 2026, the company estimated it held about $138.3 million in cash and cash equivalents.1 SELLAS cautioned that the number is unaudited and could still change once its financial closing and management review procedures are finished, meaning the figure that eventually appears in the six-month financial statements may differ.1
The filing was signed by SELLAS Senior Vice President and Chief Financial Officer John T. Burns and dated July 27, 2026. The document was signed on behalf of the company by Burns on that date.1
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