Norwegian Biotec Pharmacon settles US patent issue with Biothera

Early production stage of SBG. Photo: www.biotec.no

Norwegian biotechnology firm Biotec Pharmacon ASA (OSL: BIOTEC) said Monday August 17 it reached a settlement with US sector company Biothera of the litigation between them regarding a patent issue, now pending in federal court in Minneapolis, in the U.S.

Although the terms of the settlement are confidential, both parties are satisfied with the outcome, Biotec Pharmacon said in a statement. “The business resolution will allow Biotec Pharmacon to proceed with its drug development programmes,” CEO Lars Viksmoen said. Biothera chairman, Daniel Conners, stated the settlement maintains the protection of the company’s intellectual property.

The patent infringement lawsuit was initiated by Biopolymer Engineering Inc, doing business as Biothera, against Biotec Pharmacon and its US affiliate, Immunocorp. Biothera had claimed that the Norwegian company infringed its U.S. patents by selling nutraceutical and skin care products (marketed in Norway under the trade name nbg24:7) in the U.S.

Biothera also claimed that Biotec Pharmacon’s pharmaceutical candidate compound soluble beta glucan (SBG) infringes seven of the 14 U.S. patents at issue in the case. Following a ruling largely in favour of Biotec from January 2009, only claims asserted against the skin care product and SBG under two patents were to proceed to a trial stage.

Source: TradingMarkets.com