Intellect Neurosciences Inc. (fka ILNS)

[KaOsiris]

The case against Pfizer will come to an end soon (perhaps on 07/11/2013 ??), as it appears!

There is now Intellects opposition to Pfizers motion to dismiss on https://iapps.courts.state.ny.us/webcivil/FCASSearch

it's document 55
07/02/2013 AFFIDAVIT OR AFFIRMATION IN OPPOSITION TO MOTION Affidavit in Opp with Redactions for Efiling to Comply with Order on Sealing Motion 002 STANLEY K SHAPIRO


So, as can be seen from Intellects opposition, Pfizer argues that the milestone payment for the grant of US patent is only due, once a phase III study has been run (and there is an FDA approval for the drug).

Intellect however proves - in my view - perfectly with the flow of drafts and emails for the final license agreement, that the interpretation of Pfizer is without any doubt wrong, as Pfizer agreed during the drafts and negotiation that the milestone payment is not linked to any phase III/ approval/commercial product.

Well, it's not possible to know in advance what will be a court decision, but from what I read of Intellects opposition, Pfizer should not have any chance to win this motion and consequently as there are no other reasons than the due date of the payment, the whole thing.

Intellect also argues that Pfizer has done this wilful and in bad faith in order to destroy Intellect financially and asks the court to "grant plaintiff such other and further relief a the to the court shall seem just and proper."


According to the last adjournement for one week, the decision concerning Pfizers motion to dismiss is now due at 07/11/2013 Motion OING, JEFFREY K.
EFILED COMMERCIAL SUBM CAL SOS 002

Lets hope we will get this decicion then and that it is as I expect after reading Intellects opposition.
This should push ILNS pps considerably and open to ILNS the much needed financial background to persue partnering/buyout negotiatons from a better position than right now.