Genovis AB enters settlement and license agreement with Promega Corporation in patent infringement case
30 Jun 2016, 08:45
Regulatory information
Genovis AB, in which Hansa Medical strategically holds ten per cent of the shares, has reached a settlement and license agreement with Promega Corporation in a patent infringement case. The details in the agreement have not been disclosed
In November 2014, Genovis filed a complaint for patent infringement by Promega in the US regarding one of Promega’s products that concerns Genovis’s product FabRICATOR, originally developed using technology licensed from Hansa Medical. Genovis and Promega have now reached a settlement agreement, which includes a license agreement between the two parties.
The license agreement allows both parties to continue worldwide sale of IdeS and IdeZ products such as FabRICATOR for non-clinical applications such as the analysis of antibodies and the production of IgG-fragments.
Neither of the two agreements have any financial or commercial implications on Hansa Medical’s ongoing business.
About Genovis AB and FabRICATOR
Genovis AB develops and sells unique enzymes in innovative formats facilitating quality control and development of antibody-based pharmaceuticals. Genovis’ product FabRICATOR was originally developed using Hansa Medical’s enzyme IdeS specifically for laboratory applications. Hansa Medical controls all legal rights to therapeutic applications of the enzyme. Hansa Medical controls a strategic investment in Genovis mounting to 5 712 161 shares equivalent to ten per cent of the company. Genovis AB is listed on NASDAQ OMX First North and is traded under the ticker name GENO.
About Hansa Medical AB
Hansa Medical is a biopharmaceutical company focusing on novel immunomodulatory enzymes. The lead project IdeS is an antibody-degrading enzyme in clinical development, with potential use in transplantation and rare autoimmune diseases. Additional projects focus on development of new antibody modulating enzymes, as well as HBP, a diagnostic biomarker for prediction of severe sepsis at emergency departments that is already introduced on the market. The company is based in Lund, Sweden. Hansa Medical’s share (ticker: HMED) is listed on Nasdaq Stockholm.
