Settlement between Biotec Pharmacon ASA and Biothera
(Thomson Reuters ONE) - 17. August, 2009: Biothera and Biotec Pharmacon ASA announce theyhave reached a settlement of the litigation between them now pendingin federal court in Minneapolis, Minnesota. Although the terms of thesettlement are confidential, both companies expressed satisfactionwith the outcome.Daniel Conners, Chairman of Biothera, stated: "The settlementmaintains the protection of our intellectual property".Lars Viksmoen, CEO of Biotec, says: "The business resolution willallow Biotec Pharmacon to proceed with its drug developmentprograms".For supplemental information, please contact:Lars Viksmoen, CEO of Biotec Pharmacon, phone: +47 40620870Jørn Lunde, CFO of Biotec Pharmacon, phone: +47 90733486About Biothera:Biothera is a biotechnology company dedicated to improving immunehealth. The company is developing pharmaceuticals that target, directand activate the innate immune system to fight cancer. Biothera alsomanufactures and markets food-grade ingredients that supports healthyimmune function to the nutritional supplement, functional food,cosmetic and animal nutrition markets (www.biothera.com).About Biotec Pharmacon:The biopharmaceutical company Biotec Pharmacon developspharmaceutical products for prevention and treatment of immunerelated diseases. The company has developed the bioactive substanceSBG (soluble beta glucan), which is in clinical phase III for twoindications; treatment of diabetic ulcers and prevention andtreatment of oral mucositis. The company's clinical developmentprogram also includes immune therapy of cancer, where combinationtreatments with SBG and monoclonal antibodies are being studied inclinical phase I/II. In addition, the company is also involved inseveral pre-clinical studies. Biotec Pharmacon also produces andmarkets non-pharmaceutical health- and diagnostic products(www.biotec.no).This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 17.08.2009 - 08:16 Uhr
Sprache: Deutsch
News-ID 4761
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