Posted by: ctyoadmin
July 30, 2010
Heidelberg (Germany), July 30th, 2010 – BioPheresis Inc., Delaware, and its subsidiary BioPheresis GmbH, a biomedical technology company focused on tumor immunotherapy, today announced the closing of settlement and licensing agreements with CytoLogic Inc., Boulder, Colorado. The companies have reached an amicable settlement of a patent litigation in the United States. The settlement allows CytoLogic to initiate clinical trials and enables BioPheresis to benefit from the commercial success of CytoLogic ́s products.
Under the terms of the agreement, Biopheresis has granted CytoLogic a license to a number of patents enabling CytoLogic to develop and commercialize its proprietary technology and a limited number of products through preclinical and clinical development.
CytoLogic ́s access to BioPheresis ́ patent estate is exclusively limited to CytoLogic ́s proprietary technology. In turn, BioPheresis is entitled to milestone and royalty payments. Financial details of the agreement have not been disclosed.
Moreover, both companies have entered into a research collaboration to develop optimized products and novel product candidates based on therapeutic apheresis for the treatment of cancer. The goal of the collaboration is to leverage the complementary expertise of both companies to ensure maximum upside potential.
“We believe that the settlement and license agreements are the best possible outcome of this long patent litigation,” said Niels Emmerich, CEO of BioPheresis. “We are now looking forward to maximize the significant commercial potential of the respective partners’ expertise in therapeutic apheresis for immunotherapy. The research collaboration will strengthen both companies and lead to novel, innovative treatments for the benefit of cancer patients.”