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Panagene Reaches Settlement of Patent Infringement Cases with Biosynthesis - Panagene and Biosynthesis, Inc. (Lewisville, Texas) have agreed to settle Panagene’s allegations of patent infringement that were pending in the United States District Court for the Eastern District of Texas - Panagene.com
Panagene Reaches Settlement of Patent Infringement Cases with Biosynthesis

 

PRZOOM - /newswire/ - Daejeon, Chungchungnamdo, Korea (South), 2012/12/20 - Panagene and Biosynthesis, Inc. (Lewisville, Texas) have agreed to settle Panagene’s allegations of patent infringement that were pending in the United States District Court for the Eastern District of Texas - Panagene.com.

   
 
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Panagene, Inc. announced today that Panagene and Biosynthesis, Inc. (Lewisville, Texas) have agreed to settle Panagene’s allegations of patent infringement that were pending in the United States District Court for the Eastern District of Texas. The terms of the settlement include Biosynthesis’ undisclosed payments of past damages and stopping immediately all PNA products sales and PNA-related services. Panagene alleged that Biosynthesis’ PNA products and PNA-related services infringe two patents exclusively licensed by Panagene: United States Patent Nos. 6,395, 474 and 7,378, 485. These patents cover multiple aspects of PNA (Peptide nucleic acids, artificial DNA) material and technology, including PNA oligomers, PNA monomers, and PNA uses in diagnostics.

“Intellectual properties are keys of advancing technology and Panagene is investing significant resources to develop and license in new technologies to support the needs of the advanced PNA diagnostic for personalized medicine and therapeutic market. We have, and will continue to enforce our patent rights,” said Dr. Sungkee Kim, President and CEO of Panagene, Inc. “Panagene is pleased to have achieved a favorable resolution of the patent infringement action against Biosynthesis.”

About Panagene

Panagene, Inc. (panagene.com), a listed company headquartered in Daejeon, Korea, is exclusively licensed PNA supplier worldwide. Panagene developed and patented efficient PNA production processes for PNA oligomers in high purity and large quantities. Panagene have also developed PNA-based diagnostic technology such as PNAClamp™ and PANArray™ (PNA microarray chip) and delivers highly sensitive and specific diagnostic products for detections of gene mutations and genotypes of pathogens.

Panagene has distributors in the U.S., Austria, Belgium, Bulgaria, China, Czech Republic, India, Iran, Israel, Japan, Spain, Taiwan, and UK.

 
 
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Panagene Reaches Settlement of Patent Infringement Cases with Biosynthesis

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Contact: Tae Kim - Panagene.com 
805-480-4897 info[.]panagene.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Panagene securities in any jurisdiction including any other companies listed or named in this release.

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