May 14 2010
Celsis International Ltd. announced today that Celsis In Vitro, Inc. ("Celsis IVT") 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."
Source:
Celsis International Ltd.
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