CepTor and Xmark Announce End to Law Suit.HUNT VALLEY, Md. -- CepTor Corporation, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CEPO CEPO County Emergency Planning Officer (UK) CEPO Community & Environment Project Office (Edmonton Green, North London) ), a development-stage biopharmaceutical company focusing on cell targeted therapeutic products for neuromuscular neuromuscular /neu·ro·mus·cu·lar/ (-mus´ku-ler) pertaining to nerves and muscles, or to the relationship between them. neu·ro·mus·cu·lar adj. 1. and neurodegenerative diseases neurodegenerative diseases diseases characterized by neurodegeneration. Lesions are microscopic only but in chronic disease with massive involvement there may be grossly visible atrophy of affected nervous tissue. , and the Xmark Opportunity Funds announced that Xmark has dropped the pending lawsuit brought by it against CepTor Corporation and its Chairman, William Pursley, and that Xmark has agreed to dismiss, with prejudice, all of Xmark's pending claims. Both sides have provided the other with releases from any further actions. Mr. Pursley stated, "We are happy to have resolved this matter amicably with Xmark without the need for further wasteful 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. permitting us to focus our attentions where they belong, on getting an IND filed for Myodur in Duchenne muscular dystrophy Duchenne muscular dystrophy (DMD) The most severe form of muscular dystrophy, DMD usually affects young boys and causes progressive muscle weakness, usually beginning in the legs. ." About CepTor CepTor Corporation is a development-stage biopharmaceutical company engaged in the discovery, development, and commercialization of proprietary, cell-targeted therapeutic products for the treatment of neuromuscular and neurodegenerative diseases with a focus on orphan diseases. The Company's mission is to increase the quality and quantity of life of people suffering with these diseases. An orphan disease is defined in the United States as a serious or life-threatening disease that affects less than 200,000 people and for which no definitive therapy currently exists. CepTor Corporation seeks to create an efficient orphan drug orphan drug, drug developed under the U.S. Orphan Drug Act (1983) to treat a disease that affects fewer than 200,000 people in the United States. The orphan drug law offers tax breaks and a seven-year monopoly on drug sales to induce companies to undertake the platform by taking advantage of the legislative, regulatory and commercial opportunities common to these rare diseases. CepTor's primary efforts are currently being focused on moving its lead product, MYODUR, into phase I/II clinical trials for Duchenne muscular dystrophy. The Company's broad platform technology also includes the development of products for multiple sclerosis, retinal degeneration and epilepsy. This news release contains forward-looking statements. Such statements are valid only as of today, and we disclaim any obligation to update this information. These statements are subject to known and unknown risks and uncertainties that may cause actual future experience and results to differ materially from the statements made. These statements are based on our current beliefs and expectations as to such future outcomes. Drug discovery and development involve a high degree of risk. Factors that might cause such a material difference include, among others, uncertainties related to the ability to attract and retain partners for our technologies, the identification of lead compounds, the successful preclinical development thereof, the completion of clinical trials, the 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. review process and other government regulation, our pharmaceutical collaborator's ability to successfully develop and commercialize drug candidates, competition from other pharmaceutical companies, product pricing and third party reimbursement. |
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