ImClone Systems, Inc. (IMCL) said it agreed to pay $65 million to Repligen Corp. (RGEN) and The Massachusetts Institute of Technology, or MIT, to settle a lawsuit that alleged, ImClone used Repligen's patented technology to manufacture cancer drug Erbitux. Shares of Repligen are currently down more than 14%. As a result of the current settlement, Repligen would receive net proceeds of about $40 million after payment of obligations to MIT and legal expenses. The settlement agreement serves as the basis for Repligen and MIT to dismiss the lawsuit against ImClone. Further, Repligen has granted ImClone a non-exclusive sublicense to certain patent rights.

Posted by GEN-ERIC at 12:38:13 am into the following categories: In The News

---

http://gen-eric.com/patents/htsrv/trackback.php/1310

Name:

Email: (not displayed on this site)

Site/Url:

Comment text:

Allowed XHTML tags: <p, ul, ol, li, dl, dt, dd, address, blockquote, ins, del, a, span, bdo, br, em, strong, dfn, code, samp, kdb, var, cite, abbr, acronym, q, sub, sup, tt, i, b, big, small>

URLs, email, AIM and ICQs will be converted automatically.

Options:
Auto-BR (Line breaks become <br />)
Remember me (Set cookies for name, email & url)