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Biowatch

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Re: drbio45 post# 33532

Wednesday, 09/06/2006 8:55:05 AM

Wednesday, September 06, 2006 8:55:05 AM

Post# of 252312
Advanced Cell Technology Announces Settlement of Patent Interference Action
Wednesday September 6, 8:00 am ET

ALAMEDA, Calif.--(BUSINESS WIRE)--Sept. 6, 2006--Advanced Cell Technology, Inc. (OTCBB: ACTC - News; ACT) announced today that it has settled a patent dispute involving certain nuclear transfer cloning patents and patent applications owned or licensed by the University of Massachusetts (UMass), Roslin Institute (Roslin), Geron Corporation (Nasdaq: GERN - News; Geron), Start Licensing, Inc. (Start) and ACT. The dispute involved appeals to the U.S. District Court by ACT and UMass that sought to overturn rulings by the U.S. Patent and Trademark Office against ACT and UMass in patent interference numbers 104,746 and 105,192.

The underlying interference proceedings centered around patent applications owned by Roslin against U.S. Patents 5,945,577 and 6,234,970 owned by UMass and exclusively licensed to ACT. The interference proceedings were initiated by Roslin's licensee, Geron. In late 2004 and again in early 2005, the Board of Patent Appeals and Interferences of the U.S. Patent Office ruled in favor of Geron in both interferences. UMass and its licensee, ACT, immediately filed appeals, naming Roslin, Geron and Exeter Life Sciences (Exeter), also a Roslin licensee, as defendants. In mid-2005, Geron and Exeter established a joint venture company, Start Licensing, to manage and license intellectual property rights for animal reproductive technologies, and exclusively licensed their rights in Roslin patent applications to Start in the non-human animal field.

Under the terms of the settlement agreement, Start agreed to pay ACT an initial payment of $500,000 and milestone payments of up to $750,000. Start, Geron, Exeter and Roslin each further agreed not to sue ACT or UMass under the involved Roslin patent applications. In exchange, ACT and UMass dismissed their appeals with prejudice, transferred control of related UMass patents and patent applications to Start in the non-human animal field, and ACT paid certain legal fees. Under the terms of the settlement agreement, ACT retained its rights under the UMass patents in the human field.

"This settlement resolves the parties' various patent rights with respect to nuclear transfer cloning in the non-human field. The parties are now free to move forward with their respective business models unfettered by this patent dispute," said William M. Caldwell, CEO of ACT.

About Advanced Cell Technology

Advanced Cell Technology, Inc. is a biotechnology company engaged in the emerging field of regenerative medicine. The company operates facilities in Alameda, California and Worcester, Massachusetts. For more information about the company, please visit www.advancedcell.com.

http://biz.yahoo.com/bw/060906/20060906005238.html?.v=1
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