Seneca Biopharma Inc fka SNCA

[tassitano]

I'm new with CUR and I would need to know if there is reason to worry about this news:


StemCells Inc. Patent Infringement and Libel Suits Against Neuralstem (Amex:CUR)
In July 2006, StemCells Inc. filed suit against Neuralstem, Inc. in the Federal District Court for the District of Maryland,
alleging that Neuralstem’s activities violate claims in four of the patents exclusively licensed from NeuroSpheres,
specifically U.S. Patent No. 6,294,346 (claiming the use of human neural stem cells for drug screening), U.S. Patent No.
7,101,709 (claiming the use of human neural stem cells for screening biological agents), U.S. Patent No. 5,851,832
(claiming methods for proliferating human neural stem cells), and U.S. Patent No. 6,497,872 (claiming methods for
transplanting human neural stem cells).
In May 2008, StemCells Inc. filed a second patent infringement suit against Neuralstem and its two founders, Karl Johe
and Richard Garr. In this suit, filed in the Federal District Court for the Northern District of California, they allege that
Neuralstem’s activities infringe claims in two patents exclusively license from NeuroSpheres, specifically U.S. Patent No.
7,361,505 (claiming composition of matter of human neural stem cells derived from any source material) and U.S. Patent
No. 7,115,418 (claiming methods for proliferating human neural stem cells). In addition, they allege various state law
causes of action against Neuralstem arising out of its repeated derogatory statements to the public about their patent
portfolio. Also in May 2008, Neuralstem filed suit against StemCells Inc. and NeuroSpheres in the Federal District Court
for the District of Maryland seeking a declaratory judgment that the ‘505 and ‘418 patents are either invalid or are not
infringed by Neuralstem and that Neuralstem has not violated California state law. In August 2008, the California court
transferred the lawsuit against Neuralstem to Maryland for resolution on the merits. In July 2009, the Maryland District
Court granted SremCells Inc.’s motion to consolidate these two cases with the litigation they initiated against Neuralstem
in 2006. Discovery is ongoing in these cases with an anticipated trial date in 2014.

ref:http://lifetechcapital.com/ltc/wp-content/uploads/2013/08/STEM-Update-08-22-13.pdf