Neuralstem Inc. has announced that StemCells Inc. has consented to a stay of the lawsuit it filed against Neuralstem in August 2006.
The motion also stays Neuralstem's Counter Claims against StemCells Inc. indefinitely.
The U.S. Patent Office recently ruled in favor of Neuralstem and ordered re-examinations of all the StemCells Inc. patents in a suit finding that there were "serious new questions of patentability" problems with each claim of every patent under re- examination.
Neuralstem has its own issued patents relating to its human neural stem cell technology. These patents are not being challenged in the litigation between the companies.
"We have alleged in the litigation that the patents StemCells. Inc. was seeking to assert against us were invalid, and we are certainly not surprised that the Patent Office has now ruled that there are serious new questions of patentability with their claims," said Neuralstem CEO, Richard Garr.