ots Ad hoc-Service: MediGene AG <DE0005020903> MediGene AG Expects Dismissal of its Lawsuit against Loyola University of Chicago and Medimmune, Inc.
Martinsried (ots Ad hoc-Service) -
Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement.
MediGene AG, a German biotech company listed on the Neuer Markt at the Frankfurt Stock Exchange, today announced that the United States District Court in Chicago has indicated it will enter judgment against MediGene on or about April 4, 2001, on MediGene's lawsuit, filed in 1998, against Loyola University of Chicago, MedImmune, Inc., a United States biotech company, and an individual defendant. MediGene is reviewing the legal consequences of the expected judgment against it and considering an appeal to the United Stales Court of Appeals. The dispute concerns the CVLP technology, a method for the creation of virus-like particles that MediGene has been developing for the potential treatment of HPV-induced tumors.
MediGene's lawsuit against Loyola sought to determine ownership of certain patents relating to the CVLP technology and alleged the breach of a Memorandum of Understanding between Loyola and MediGene regarding rights under those patents. MediGene's lawsuit also charged MedImmune and a further defendant with tortious interference with the Memorandum of Understanding, breach of a material transfer agreement between MediGene and MedImmune, and tortious interference with MediGene's prospective economic advantage. Loyola and MedIummune rejected the charges and filed counterclaims against MediGene, which MediGene has denied. The Court dismissed MediGene's secondary claims for damages and injunctive relief based on the Memorandum of Understanding on December 19, 2000. In hearings held in mid-March 2001 regarding Medigene's primary claims to ownership of the disputed patents, the Court orally stated that it would grant Loyola's and MedImmune's motions for summary judgment on all counts of MediGene's claims. The Court has not indicated when it will rule on various counterclaims brought by Loyola and MedImmune against MediGene.
The CVLP technology is one of MediGene's five product candidate programs and is the basis for a product candidate in clinical Phase I/II. MediGene has four further product candidates in clinical development, including one each in clinical Phase III, clinical Phase II, clinical Phase I/II, and one that has completed clinical Phase I/II.
MediGene and Schering AG, with whom MediGene has a collaboration agreement relating to the CVLP technology in dispute, expect ongoing settlement negotiations with the defendants to continue.
For further information please contact:
MediGene AG email: investor@medigene.de fax: ++49 -89-89 56 32-20 Christine Bohner, Public Relations phone: ++49 -89-89 56 32-16 Michael Nettersheim, Investor Relations phone: ++49 -89-89 56 32-46
end of ad hoc announcement, (c) DGAP 23.03.2001
WKN: 502090; Index: NEMAX- 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
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Original-Content von: Medigene AG, übermittelt durch news aktuell