Stratagene Issues Statement Regarding Third Wave Lawsuit.LA JOLLA La Jolla (lə hoi`yə), on the Pacific Ocean, S Calif., an uninc. district within the confines of San Diego; founded 1869. The beautiful ocean beaches, in particular La Jolla shores and Black's Beach, and sea-washed caves attract visitors and , Calif. -- Stratagene Corporation (Nasdaq:STGN), a developer, manufacturer and marketer of life science research and diagnostic products, today responded to a lawsuit filed by Third Wave Technologies Inc. yesterday in the U.S. District Court in Madison, Wisconsin Madison is the capital of the U.S. state of Wisconsin and the county seat of Dane County. It is also home to the University of Wisconsin–Madison. The 2006 population estimate of Madison was 223,389, making it the second largest city in Wisconsin, after Milwaukee, and . Although Stratagene has not yet been formally served with the complaint, Stratagene has reviewed the claims in the lawsuit and believes that such claims lack merit. Stratagene intends to defend the Third Wave Technologies proceeding vigorously. "We are surprised that Third Wave would file this lawsuit before discussing with us the differences in the two companies' technologies," said Dr. Joseph Sorge, Stratagene's Chairman 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. . "Stratagene's patents in this area are very clear. Stratagene does not include overlapping DNA DNA: see nucleic acid. DNA or deoxyribonucleic acid One of two types of nucleic acid (the other is RNA); a complex organic compound found in all living cells and many viruses. It is the chemical substance of genes. molecules in its kits. In contrast, Stratagene's FullVelocity technology benefits from the sensitivity advantages of PCR PCR polymerase chain reaction. PCR abbr. polymerase chain reaction Polymerase chain reaction (PCR) amplification, something not found in Third Wave's Invader methods. We believe that the filing of this action by Third Wave indicates that Third Wave views Stratagene's new technology as a serious competitive threat." Stratagene's FullVelocity technology, which Third Wave Technologies alleges infringes their patent rights, is covered by three Stratagene patents issued by the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Patent Office (6,350,580; 6,528,254; and 6,548,250). Stratagene's technology utilizes a polymerase to amplify DNA, a process that Third Wave Technologies claims is counterproductive to their process. Moreover, Stratagene's technology does not utilize one of the essential elements to Third Wave's invention: the inclusion of overlapping DNA molecules in the reaction mixture. About Stratagene Corporation Stratagene is a developer, marketer and manufacturer of specialized life science research and diagnostic products. The Company's life science research division supports advances in science by inventing, manufacturing and distributing products that simplify, accelerate and improve research. These products are used throughout the academic, industrial and government research sectors in fields spanning molecular biology molecular biology, scientific study of the molecular basis of life processes, including cellular respiration, excretion, and reproduction. The term molecular biology was coined in 1938 by Warren Weaver, then director of the natural sciences program at the Rockefeller , genomics, proteomics, drug discovery and toxicology. The Company's diagnostic division develops and manufactures products for urinalysis, and high quality automated instrument and reagent systems that use blood samples to test for more than 1,000 different allergies and autoimmune disorders Autoimmune Disorders Definition Autoimmune disorders are conditions in which a person's immune system attacks the body's own cells, causing tissue destruction. . In addition, by combining its expertise in diagnostics and molecular biology, as well as its experience with 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. regulatory procedures, the Company is pursuing opportunities to expand its product portfolio to include molecular diagnostics kits and instrumentation. Forward-Looking Statements This communication contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are therefore entitled to the protection of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of these laws. Stratagene generally identifies forward-looking statements in this communication by using words like "believe," "intend," "target," "expect," "estimate," "plan," "anticipate," "predict" or similar expressions. These forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties. Actual results could differ materially from those projected in or contemplated by the forward-looking statements. Among the important factors that could cause actual results to differ materially from those contained in or implied by the forward-looking statements are risks associated with the absence of a public market for the Stratagene common stock prior to the Hycor merger transaction, the failure of the company to manage the cost of integrating Stratagene and Hycor, the company's inability to sufficiently anticipate market needs and develop products and product enhancements that achieve market acceptance, the company's ability to compete effectively in the diagnostics and life sciences research markets, variability of the company's quarterly revenues and operating results, the failure of the company to retain key employees, the company's ability to obtain additional debt or equity financing Equity Financing The act of raising money for company activities by selling common or preferred stock to individual or institutional investors. In return for the money paid, shareholders receive ownership interests in the corporation. , the possibility of declining sales due in part to a reduction in research and development budgets or government funding, and the company's ongoing ability to protect its own intellectual property rights and to avoid violating the intellectual property rights of third parties. For more information about these and other factors that could cause actual results to differ materially from those contained in or implied by the forward-looking statements please refer to the "risk factors" contained in Stratagene's Form S-4 Registration Statement (Registration No. 333-109420) relating to the Hycor merger transaction and in other reports filed by Stratagene from time to time with the Securities and Exchange Commission, including quarterly reports on Form 10-Q Form 10-Q See 10-Q. and annual reports on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . |
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