The dispute arose following the Petrobras's parties' termination of the Agreement for the Provision of Drilling Services for the Titanium Explorer dated February 4, 2009 (the 'Drilling Contract') between PVIS and VDEEP and which had been novated to PAI and VDDI
. The Petrobras parties claimed the Vantage parties had breached their obligations under the Drilling Contract.
In the same year, independent evaluation of the VDDI
(Australian Healthcare Associates, 2011) found that, while the initiative had had a dramatic impact with regard to building recognition that "dual diagnosis is everyone's business," there was far less progress on integrated care and collaborative practice.
Under the terms of the agreement, VDDI claims sole and exclusive ownership of ILB's worldwide patent portfolio for reverse antimicrobial medical peptide technology and retains all rights for human, veterinary and agricultural applications.
The acquisition culminates a year-long collaborative research agreement between VDDI and ILB that established the proof of principle for the technology for use in human and animal infectious diseases.
Stephen Porter, president and CEO of VDDI. "As a result of our efforts in the past year, we have truly made significant strides in this respect."
Everett, ILB's chief scientific officer, can become a member of the scientific advisory board of VDDI, as well as remain an active consultant to the medical peptide project.