BeautiControl Settles Pending Patent Infringement Litigation with NeoStrata Company Subsidiary TriStrata Technology, Inc.PRINCETON, N.J. -- NeoStrata Company, Inc.'s subsidiary, TriStrata Technology, Inc. ("TTI TTI Texas Transportation Institute TTI Thoracic Trauma Index TTI Transmission Time Interval TTI Travel Time Index TTI Travel Technology Initiative TTI Technology Transfer Initiative TTI Traffic and Traveller Information TTI Technology Transfer Institute ") and BeautiControl, Inc. ("BCI BCI Bat Conservation International BCI Brain-Computer Interface BCI Business Continuity Institute BCI Business Cycle Indicators BCI Banco de Credito e Inversiones (Chilean bank) BCI Bell Canada International ") have settled patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. that was pending between the two companies in the United States District Court for the District of Delaware The United States District Court for the District of Delaware is the Federal district court having jurisdiction over the entire state of Delaware. The Court sits in Wilmington. Currently, three judges and two magistrate judges preside over the court. . The settlement resolves litigation concerning TTI's claim of patent infringement arising from BCI's alleged use of certain patents owned by TTI relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the use of alpha hydroxyacids (AHAs) for the reduction of human skin wrinkles and the alleviation of the signs of dermatological aging. The settlement includes a license agreement, the financial terms of which are confidential. TTI still has pending suits against Valeant (ICN ICN International Council of Nurses. ), as well as Mary Kay Mary Kay is a brand of skin care and color cosmetics sold by Mary Kay Inc. Mary Kay World Headquarters is located in the Dallas suburb of Addison, Texas. Mary Kay Ash (d. November 22, 2001) founded Mary Kay Inc. on Friday, September 13, 1963. (R) Cosmetics. Richard H. Wildnauer, Ph.D., president of TTI's parent NeoStrata Company, Inc., remarked, "We are pleased to have a direct market leader and innovator such as BeautiControl join the growing list of TTI's licensees on terms that we believe are mutually beneficial Adj. 1. mutually beneficial - mutually dependent interdependent, mutualist dependent - relying on or requiring a person or thing for support, supply, or what is needed; "dependent children"; "dependent on moisture" to both companies." BeautiControl, a direct selling company, manufactures and distributes premium beauty and skin care products, cosmetics, bath and body care, fragrances, and related products. TTI was represented in the settlement by Kevin M. McGovern, Esq. and Brian T. Foley, Esq. of McGovern & Associates, Greenwich, CT. BeautiControl joins the growing list of pharmaceutical and cosmetic companies that have licensed certain aspects of TTI's AHA technology. These include Allergan, Avon, Boots, Bristol-Myers Squibb, Beiersdorf, Canderm Pharma, Chanel, Cognis, Cosmederm, Conopco, (a subsidiary of Unilever), Elizabeth Arden, Erno Lazlo, Genesis Pharmaceutical, Inc. (a subsidiary of Pierre Fabre Dermo Cosmetique USA), Guthy Renker, Johnson and Johnson, L'Oreal, Merz Pharmaceuticals, M.D. Beauty, Nucelle Inc. and Summers Labs. Licensing dermatological companies include Dermik, Medicis, Stiefel, Stratus Pharmaceuticals, Taro Pharmaceuticals and Valeant (ICN). About NeoStrata NeoStrata Company, Inc. is a research-based dermatological company dedicated to the advancement of skin care and dermatological products. It is the medical community's internationally recognized leader in developing alpha-hydroxyacid technology and formulations. It holds more than 120 patents, many licensed by over 40 pharmaceutical and cosmetic companies. NeoStrata has been ranked in the top 50 biotechnology firms in New Jersey by NJBIZ. NeoStrata also markets the NeoStrata(R) brand of skin care products to dermatologists and plastic surgeons in over 55 countries. It also markets prestige retail brands including Exuviance(R) skin care as well as CoverBlend(R) by Exuviance - a breakthrough line of medically developed, concealing treatment cosmetics to conceal and correct all types of visible skin imperfections. For more information, visit http://www.neostrata.com or call 1-800-225-9411. |
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