Valentis announces settlement of PEG-liposome patent infringement.Valentis, Inc. (Burlingame, CA) announced that its wholly-owned subsidiary, PolyMASC Pharmaceuticals plc, has settled its patent infringement patent infringement n. the manufacture and/or use of an invention or improvement for which someone else owns a patent issued by the government, without obtaining permission of the owner of the patent by contract, license or waiver. 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. against ALZA Corporation, a unit of Johnson & Johnson. Under the settlement, PolyMASC will receive a payment of $6.5 million, and grant a worldwide license to ALZA under its PEG-liposome patents. The agreement settles pending patent infringement litigation in the United States and Germany, as well as Opposition proceedings in Japan and before the European patent Office. "We are very pleased with the clinical results from our Del-1 angiogenesis angiogenesis /an·gio·gen·e·sis/ (-jen´e-sis) vasculogenesis; development of blood vessels either in the embryo or in the form of neovascularization or revascularization. an·gi·o·gen·e·sis n. product and look forward to deploying the funds from this settlement toward completion of the Phase II clinical trial Noun 1. phase II clinical trial - a clinical trial on more persons than in phase I; intended to evaluate the efficacy of a treatment for the condition it is intended to treat; possible side effects are monitored phase II of that product," stated Benjamin F. McGraw, III, 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. of Valentis. PolyMASC initiated infringement proceedings against ALZA in the United States in April 2001, for infringement of United States patent Number 6,132,763, based on ALZA's manufacturing and selling of Doxil and Caelyx, PEGylated-liposome products encapsulating the drug doxorubicin doxorubicin /doxo·ru·bi·cin/ (dok?so-roo´bi-sin) an antineoplastic antibiotic, produced by Streptomyces peucetius, which binds to DNA and inhibits nucleic acid synthesis; used as the hydrochloride salt and as a liposome-encased . Doxil is approved and marketed in the United States for Kaposi's sarcoma and refractory ovarian cancer. The same product, Caelyx, is approved and marketed in Europe for the same indications by Schering Plough. PolyMASC initiated infringement proceedings in Germany, against SP Labo N.V., SP Europe and Essex Pharma GmbH, all members of the Schering Plough Group, alleging infringement of European patent Nos. EP572,049B1 and EP445,131B1, based on the sales of Caelyx. Valentis is converting biologic discoveries into innovative products. The company's lead product in human testing is the Del-1 angiogenesis gene formulated with one of the company's proprietary polymer delivery systems. The company is developing its other technologies, the GeneSwitch and 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. vaccine delivery technologies, through partnerships with pharmaceutical and biotechnology companies. Valentis, Inc. +1-650-697-1900 www.valentis.com |
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