BIO Sidus S.A. Settles Contract Dispute
WASHINGTON, Dec. 18 /PRNewswire/ -- Bio Sidus S.A. of Buenos Aires, Argentina and AVANT Immunotherapeutics, Inc. of Needham, Massachusetts yesterday settled an arbitration proceeding concerning contractual issues between the parties, including issues surrounding a contract for the clinical manufacture of a vaccine product. "Bio Sidus is pleased with the outcome of the settlement and to have the matter resolved," said Marcelo Arguelles, President and Chief Executive Officer of Bio Sidus S.A. Bio Sidus was represented in the arbitration by Sterne, Kessler, Goldstein & Fox P.L.L.C. of Washington, D.C. and the international law firm of Hogan & Hartson LLP.
Bio Sidus S.A. is the leading manufacturer of biological products in Latin America for the worldwide biopharmaceutical market. Over the past two decades, Bio Sidus has developed, manufactured and distributed biotech products such as interferons, epoetin, granulocyte-colony stimulating factors and somatropin -- amounting to over 23 million doses, for administration to patients in more than thirty countries. The company was founded as the biotech branch of Sidus S.A., a family-owned pharmaceutical company. In 1983, the R&D branch of Sidus became Bio Sidus S.A., an independent company and biotech arm of the Sidus Pharmaceutical Entrepreneurial Group. The company is currently focusing on gene therapy projects -- Phase I trials for angiogenesis, and seeking for large scale manufacturing alternatives, such as cloning of transgenic cattle to build a "Biopharmaceutical Dairy." It has already obtained a herd of cloned transgenic cows for somatropin.
Sterne, Kessler, Goldstein & Fox P.L.L.C.CONTACT: Tammy A. Mangan, Marketing Manager, of Sterne, Kessler,Goldstein & Fox P.L.L.C., +1-202-772-8755, Fax: +1-202-371-2540, or Email:tmangan@skgf.com
Web site: http://www.skgf.com/