CDEX INC and ASD Enter into Settlement Agreement.Paves way for Order of Dismissal by the Court ROCKVILLE, Md. -- CDEX CDEX Center for Deep Earth Exploration CDEX Compact Disk Engineering Data Exchange CDEX Checkstub Data Exchange CDEX Combat Developments Experimentation Center CDEX Chemical Detection Excellence (CDEX, Inc; Tucson, AZ) CDEX Cdrom Extension Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CEXI CEXI Cryogenic Experts, Inc. (Ventura, CA, USA) ) and Analytical Spectral Devices, Inc. announced today that they entered into a settlement agreement with regards to Civil Action No. 06-CV-426-RDB-CBS that was pending before the U.S. Federal District Court in Denver, Colorado. As part of the Settlement Agreement, CDEX has been fully licensed under ASD's patent for liquid pharmaceuticals. CDEX acknowledges the validity of ASD's patent and such acknowledgement shall continue for as long as the license remains in effect. In consideration of the settlement agreement, both parties have agreed to dismiss their respective claims against each other. The terms and conditions of the settlement agreement are otherwise confidential. "We believe the settlement agreement is fair and equitable to both parties and preserves the right of both companies to continue to develop and practice their respective intellectual property," said Jim Griffin, CDEX President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We believe the settlement agreement is fair and equitable to both parties, and we are pleased that the validity of ASD's patent has been recognized," said Dave Rzasa, ASD ASD abbr. atrial septal defect ASD Atrial septal defect, see there CEO and President. About CDEX Inc. CDEX Inc. is a technology development company with a current focus on developing and marketing products using chemical detection and validation technologies. At present, CDEX is devoting its resources to two distinct areas: (i) and quality assurance (e.g., validation of prescription medication and detection of counterfeit or sub-par products for brand protection). ValiMed is one line of CDEX products for the healthcare market; and (ii) identification of substances of concern (e.g., illegal drugs for law enforcement in the homeland security Noun 1. Homeland Security - the federal department that administers all matters relating to homeland security Department of Homeland Security executive department - a federal department in the executive branch of the government of the United States market) CDEX is headquartered in Rockville, Maryland Rockville is the county seat of Montgomery County, Maryland, United States. According to the 2006 census update, the city had a total population of 59,114, making it the second largest city in Maryland. with its research and development laboratory in Tucson, Arizona Tucson (pronounced /ˈtusɑn/, Spanish: Tucsón [tuk'son] . For more information, visit www.cdex-inc.com. Any statements made in this press release which contain information that is not historical are essentially forward-looking. Many forward-looking statements can be identified by the use of words such as "expects," "plans," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks are detailed from time-to-time in filings with the Securities and Exchange Commission. There is no obligation to publicly update any forward-looking statements. |
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