Follow-up:
GTG Law Suits Against Nuvelo and Covance Now Settled
Genetic Technologies Limited ("GTG") is pleased to report that 2 out of the 3 law suits filed by GTG against US biotechnology companies were settled in USA last week.
GTG reminds the market that on 5 September 2001, we reported GTG had secured patent insurance covering all its patents and if necessary, we would initiate legal action against one or more US biotechnology companies who appeared to use our technology and ignored our efforts to take a license from GTG.
GTG has subsequently reported details of a succession of agreements reached with many companies now acquiring licenses from GTG.
On 1 Apri1 2003, GTG reported it had initiated legal action against 3 major listed US biotechnology companies for patent infringement under the terms of the patent insurance policy held by GTG.
GTG did not identify the three companies at the time, in order to give the parties every opportunity of resolving these three disputes by negotiation. However, with time, journalists were able to identify the 3 companies, from the public records of the US District Court, California, Northern District, and from various disclosures by those companies themselves.
We can therefore now confirm that the three companies sued by GTG for patent infringement are (i) Nuvelo, Inc., (ii) Covance, Inc., and (iii) Applera Corporation.
Accordingly we are very pleased to now report that recent settlement discussions have resulted in the total settlement of the disputes with Nuvelo, Inc., and with Covance, Inc. The precise terms of these settlements must remain confidential and cannot be publicly disclosed, but I can indicate that GTG is pleased with the final outcome. GTG will soon dismiss the legal actions against Nuvelo, Inc., and Covance, Inc.
GTG will now focus its efforts on the remaining action - against Applera Corporation. Applera is the parent company of Applied Biosystems, Celera Genomics and Celera Diagnostics. GTG will now also be expanding its non-coding licensing program globally.
Yours faithfully,
Dr Mervyn Jacobson
Executive Chairman
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