Celsis International PLC (CEL.L): IVT Settles LiverPool Patent Infringement Suit With Xenotech
5/14/2010 9:57:23 AM
BALTIMORE, May 13 /PRNewswire/ -- Celsis International Ltd. announced today that Celsis In Vitro, Inc. ("Celsis IVT") has reached a settlement agreement with XenoTech, LLC, Sekisui Chemical Co. Ltd., and Sekisui Medical Co. Ltd. in a patent infringement lawsuit filed by Celsis IVT on February 2, 2010.
The lawsuit involved a patent owned by Celsis IVT relating to processes for producing its LiverPool products. The LiverPool products are multi-cryopreserved, pooled hepatocyte products used by pharmaceutical companies to evaluate potential drug compounds.
As part of the settlement agreement, XenoTech has agreed to cease manufacturing and selling its CryoXTreme products. Other terms of the settlement agreement are confidential.
"Celsis believes in the fundamental importance of respecting patents and other forms of intellectual property, and we intend to defend the time and energy we have invested in our LiverPool product line and patents," said Jay LeCoque, CEO of Celsis. "I am pleased that this lawsuit has been settled and that CryoXTreme has been removed from the market."
For more information about Celsis and its products, visit www.celsis.com.
About Celsis IVT
Celsis IVT is the premier world provider of specialized in vitro products for the study of metabolism, drug-drug interactions and toxicity in drug discovery and development. Since 1990, pharmaceutical and biotechnology companies have relied on Baltimore-based Celsis IVT for quality in vitro products for lead optimization. Celsis IVT products deliver faster time to results, enabling more productive and cost-effective research. Celsis IVT's patented LiverPool products, cryo-plateable hepatocytes (the world's largest inventory) and other ADMET research tools are available worldwide. Visit www.celsis.com/ivt for more information.
About Celsis International
Chicago-based Celsis International is a leading global provider of innovative life science products and laboratory services to the pharmaceutical and consumer products industries. Each Celsis division delivers substantial time and cost savings to its customers while ensuring product quality and safety for consumers. Celsis' extensive client base includes leading pharmaceutical and consumer products companies, including all 25 of the top 25 pharmaceutical companies worldwide. Visit www.celsis.com.
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