Biothera and Biotec Pharmacon ASA Settle Patent Litigation
EAGAN, MN — August 17, 2009 — Biothera and Biotec Pharmacon ASA announce they have reached a settlement of the litigation between them now pending in federal court in Minneapolis, Minnesota. Although the terms of the settlement are confidential, both companies expressed satisfaction with the outcome.
Daniel Conners, Chairman of Biothera, stated: “The settlement maintains the protection of our intellectual property.”
Lars Viksmoen, CEO of Biotec, says: “The business resolution will allow Biotec Pharmacon to proceed with its drug development programs.”
About Biothera, the Immune Health Company
Biothera is a biotechnology company dedicated to improving immune health. The company is developing pharmaceuticals that target, direct and activate the innate immune system to fight cancer. Biothera also manufactures and markets food-grade ingredients that support healthy immune function to the nutritional supplement, functional food, cosmetic and animal nutrition markets.
About Biotec Pharmacon
The biopharmaceutical company Biotec Pharmacon develops pharmaceutical products for prevention and treatment of immune related diseases. The company has developed the bioactive substance SBG (soluble beta glucan), which is in clinical phase III for two indications; treatment of diabetic ulcers and prevention and treatment of oral mucositis. The company’s clinical development program also includes immune therapy of cancer, where combination treatments with SBG and monoclonal antibodies are being studied in clinical phase I/II. In addition, the company is involved in several preclinical studies. Biotec Pharmacon also produces and markets non-pharmaceutical health- and diagnostic products.