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STRATAGENE AND IXSYS ANNOUNCE SETTLEMENT OF TECHNOLOGY LITIGATION

 STRATAGENE AND IXSYS ANNOUNCE SETTLEMENT OF TECHNOLOGY LITIGATION
 SAN DIEGO, March 24 /PRNewswire/ -- The following is being issued by MacCracken & Co. on behalf of Ixsys Inc.:
 Stratagene and Ixsys Inc. announce the settlement of litigation involving the two companies and Dr. William D. Huse, vice president and chief scientific officer of Ixsys. The litigation involved generally a dispute over the ownership of certain aspects of a newly developed method to develop recombinatorial libraries of monoclonal antibodies.
 Under the terms of the settlement, the parties agreed that Ixsys and Stratagene (together with The Research Institute of Scripps Clinic) are free to practice this technology to develop recombinatorial antibody libraries. Stratacyte Corp., a wholly owned subsidiary of Stratagene, granted to Ixsys a non-exclusive license, including the right to sublicense, under patents relating to the recombinant antibody technology. Under the terms of the license, Ixsys will pay Stratacyte royalties on revenues received by Ixsys and its sublicensees for the use of this technology when and if any patents issue. The settlement also provides for a mutual release of all claims that gave rise to the litigation.
 Ixsys Inc. is a biopharmaceutical company, based in San Diego, formed to discover and apply new technologies to develop and commercialize unique peptides and human monoclonal antibodies directed toward therapeutic and diagnostic products.
 Stratagene, based in La Jolla, Calif., is recognized within the biotechnology industry as a leading innovator of reagents, supplies and laboratory equipment for research use. Stratacyte Corp., a subsidiary of Stratagene, was formed to commercially license the recombinant antibody technology.
 -0- 3/24/92
 /CONTACT: Dr. Joseph Sorge of Stratagene, 619-535-5400; or Michael J. Hanifin of Ixsys, 619-455-2350/ CO: Stratagene; Ixsys Inc.; Stratacyte Corp. ST: California IN: MTC SU:


JL -- SD003 -- 1138 03/24/92 14:01 EST
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Publication:PR Newswire
Date:Mar 24, 1992
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