Apr 17 2007
Cytochroma has announced that the lawsuit filed in August 2006 by Genzyme Corporation in the United States District Court, Western District of Wisconsin has been settled by the parties.
On August 8, 2006, Genzyme filed a complaint in the United States District Court, Western District of Wisconsin against Cytochroma Inc., Proventiv Therapeutics LLC and three former Bone Care International employees. The complaint, alleging misappropriation of Vitamin D-related trade secrets, was amicably resolved and the case has been formally dismissed. The terms of the settlement were not disclosed.
"Cytochroma has remained on track for meeting its financing and clinical development milestones despite the intercurrent lawsuit," commented Dr. Alan Lewis, Chairman of the Board. "The recent settlement with Genzyme adds further momentum to Cytochroma for achieving its corporate objectives."