Medigene AG
*vwd Ad-hoc-Service: MediGene AG english
Ad hoc announcement processed and transmitted by DGAP.
The issuer has the sole responsibility of this announcement.
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MEDIGENE AG EXPECTS DISMISSAL OF ITS LAWSUIT AGAINST LOYOLA
UNIVERSITY OF CHICAGO AND MEDIMMUNE, INC.
Martinsried, Germany – March 23, 2001. MediGene AG, a German biotech company
listed on the Neuer Markt at the Frankfurt Stock Exchange, today announced that
the United States District Court in Chicago has indicated it will enter
judgment against MediGene on or about April 4, 2001, on MediGene’s lawsuit,
filed in 1998, against Loyola University of Chicago, MedImmune, Inc., a United
States biotech company, and an individual defendant. MediGene is reviewing the
legal consequences of the expected judgment against it and considering an
appeal to the United Stales Court of Appeals. The dispute concerns the CVLP
technology, a method for the creation of virus-like particles that MediGene has
been developing for the potential treatment of HPV-induced tumors.
MediGene’s lawsuit against Loyola sought to determine ownership of certain
patents relating to the CVLP technology and alleged the breach of a Memorandum
of Understanding between Loyola and MediGene regarding rights under those
patents. MediGene’s lawsuit also charged MedImmune and a further defendant with
tortious interference with the Memorandum of Understanding, breach of a
material transfer agreement between MediGene and MedImmune, and tortious
interference with MediGene’s prospective economic advantage. Loyola and
MedIummune rejected the charges and filed counterclaims against MediGene, which
MediGene has denied. The Court dismissed MediGene’s secondary claims for
damages and injunctive relief based on the Memorandum of Understanding on
December 19, 2000. In hearings held in mid-March 2001 regarding Medigene’s
primary claims to ownership of the disputed patents, the Court orally stated
that it would grant Loyola’s and MedImmune’s motions for summary judgment on
all counts of MediGene’s claims. The Court has not indicated when it will rule
on various counterclaims brought by Loyola and MedImmune against MediGene.
The CVLP technology is one of MediGene’s five product candidate programs and is
the basis for a product candidate in clinical Phase I/II. MediGene has four
further product candidates in clinical development, including one each in
clinical Phase III, clinical Phase II, clinical Phase I/II, and one that has
completed clinical Phase I/II.
MediGene and Schering AG, with whom MediGene has a collaboration agreement
relating to the CVLP technology in dispute, expect ongoing settlement
negotiations with the defendants to continue.
For further information please contact:
MediGene AG email: investor@medigene.de
fax: ++49 -89-89 56 32-20
Christine Bohner, Public Relations phone: ++49 -89-89 56 32-16
Michael Nettersheim, Investor Relations phone: ++49 -89-89 56 32-46
end of ad hoc announcement, (c) DGAP 23.03.2001
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WKN: 502090; Index: NEMAX- 50
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
230840 Mär 01
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