Biopool International/Xtrana Enters Into Settlement Agreement With Agen Biomedical Ltd.Business Editors & Health Writers VENTURA, Calif.--(BW HealthWire)--April 9, 2001 Biopool International Inc./Xtrana (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :BIPL BIPL Biphase Level ) today announced that the Company has entered into a settlement agreement with Agen Biomedical Ltd. with regard to a patent-infringement lawsuit filed by Agen Biomedical against Biopool International/Xtrana on March 10, 2000. Agen Biomedical had contended in the lawsuit that the Company's D-dimer Assay products infringed upon technologies covered by one or more Agen Biomedical patents. As a result of the settlement, Agen Biomedical has granted to Biopool International/Xtrana a nonexclusive license to its patented technologies, and all of Agen Biomedical's claims have been released. Biopool International/Xtrana does not believe that the settlement will have a material impact on its financial condition or results of operations. Timothy J. Dahltorp, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Biopool International/Xtrana, stated: "We are very happy to have put this 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. behind us. It is clearly a win-win agreement for both Biopool/Xtrana and Agen, especially given the recent FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. clearance of our MiniQuant(TM) D-dimer Assay System, which utilizes some of the Agen technologies in the reagent kits that run on our system." Founded in 1987, Biopool International develops, manufactures and markets a full range of test kits to assess and diagnose disorders of blood coagulation, thrombotic risk factors, fibrinolysis fibrinolysis /fi·bri·nol·y·sis/ (fi?brin-ol´i-sis) dissolution of fibrin by enzymatic action.fibrinolyt´ic fi·bri·nol·y·sis n. pl. , platelet function and the vascular system. Effective with the Company's merger with Xtrana, the Company also develops nucleic acid-based tests for use in drug discovery, detection of environmental and food contaminants, forensics and identity testing, human and animal diseases, genetic predisposition to disease and other applications. To learn more about Biopool International and Xtrana, visit their Web sites at www.biopool.com and www.xtrana.com. |
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