Celsis International Ltd. announced that Celsis In Vitro, Inc. has reached a settlement agreement with XenoTech, LLC, Sekisui Chemical Co. Ltd., and Sekisui Medical Co. Ltd. in a patent infringement lawsuit filed by Celsis IVT on February 2, 2010.
The lawsuit involved a patent owned by Celsis IVT relating to processes for producing its LiverPool products. The LiverPool products are multi-cryopreserved, pooled hepatocyte products used by pharmaceutical companies to evaluate potential drug compounds.
As part of the settlement agreement, XenoTech has agreed to cease manufacturing and selling its CryoXTreme products. Other terms of the settlement agreement are confidential.
“Celsis believes in the fundamental importance of respecting patents and other forms of intellectual property, and we intend to defend the time and energy we have invested in our LiverPool product line and patents,” said Jay LeCoque, CEO of Celsis. “I am pleased that this lawsuit has been settled and that CryoXTreme has been removed from the market.”
Date: May 13, 2010
Source: Celsis International Ltd.
Filed Under: Drug Discovery