Cyanotech's Claim of Aquasearch Patent Invalidity Set for Trial in September 2001; Motion for Partial Summary Judgment Denied.Business Editors KAILUA-KONA, Hawaii--(BUSINESS WIRE)--Dec. 6, 2000 Cyanotech Corporation (Nasdaq NMS See NetWare Management System. :CYAN) announced that United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. Judge Alan C. Kay has denied Cyanotech's motion for partial summary judgment for the invalidity of the Aquasearch, Inc. (AQSE.OB) patent No. 5,541,056, based on prior art. Denial of the summary judgment means that the matter will now go before a jury at a trial, which is currently scheduled for September 2001. Gerald R. Cysewski, Ph.D., Cyanotech's chairman, 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. , said, "This action does not constitute a reconfirmation of the validity of the Aquasearch patent. Judge Kay ruled that there were questions of fact to be decided and, for that reason, denied our motion. We and our legal counsel are preparing for the next step in 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. , which is the trial next year. We continue to believe that the ultimate outcome of this litigation will not have a material adverse affect on Cyanotech's financial condition, results of operations or liquidity." -- Cyanotech Corporation, the world's leader in microalgae technology, produces high-value natural products from microalgae, and is the world's largest commercial producer of natural astaxanthin from microalgae. Products include BioAstin(TM) natural astaxanthin, a powerful antioxidant antioxidant, substance that prevents or slows the breakdown of another substance by oxygen. Synthetic and natural antioxidants are used to slow the deterioration of gasoline and rubber, and such antioxidants as vitamin C (ascorbic acid), butylated hydroxytoluene with expanding applications as a human nutraceutical; NatuRose(R) natural astaxanthin for the aquaculture aquaculture, the raising and harvesting of fresh- and saltwater plants and animals. The most economically important form of aquaculture is fish farming, an industry that accounts for an ever increasing share of world fisheries production. and animal feed industry; Spirulina spirulina Any cyanobacteria in the genus Spirulina. A traditional food source in parts of Africa and Mexico, spirulina is an exceptionally rich source of vitamins, minerals, and protein, and one of the few nonanimal sources of vitamin B12. Pacifica(R), a nutrient-rich dietary supplement; and phycobiliproteins, which are fluorescent pigments used in the immunological diagnostics market. Corporate and product information is available at http://www.cyanotech.com SAFE HARBOR -- Except for statements of historical fact, the statements in this press release are forward-looking. Such statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include, but are not limited to, general economic conditions, changes in sales levels to our largest customers, weather patterns, risks associated with the acceptance of new products, competition, foreign exchange fluctuations, government regulation, and other factors more fully detailed in the company's recent quarterly 10-Q and annual 10-K filings with the Securities and Exchange Commission. |
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