Alligator Bioscience AB and Maxygen Inc in Settlement Agreement

Alligator Bioscience AB and Maxygen Inc have agreed to withdraw their respective Court Cases against each other as well as their respective European Patent Office oppositions against each other's patents. Lund, Sweden, September 7, 2010 Alligator Bioscience AB, a privately owned biotech company focusing on optimization of biopharmaceuticals using its proprietary protein optimization technology FIND(® )announced today that it has reached an agreement with Maxygen Inc to end the pending court proceedings against each other as well as the respective oppositions against each other's patents in the European Patent Office. "I am delighted that we have been able to reach an agreement to end the long lasting dispute with Maxygen," said Sibylle Lenz, CEO of Alligator Biosciences. "Alligator has been successful in all instances up to this point in defending our proprietary FIND(®) technology, however the dispute has been a distraction and created some uncertainty around the patent position of the technology. This uncertainty is now removed and the agreement enables Alligator to continue using our proprietary FIND(®) technology to its fullest extent." About Alligator Bioscience AB Alligator Bioscience discovers and develops biopharmaceuticals using protein optimization technologies, including its proprietary FIND(®) (Fragment INduced Diversity) technology. The company is building a competitive pipeline of novel and improved drug candidates in cancer and inflammation. Alligator Bioscience can redesign virtually any characteristics of a protein that can be translated into significant clinical benefits, including higher efficacy and potency, improved safety profile and decreased immunogenicity. The company offers unique opportunities to discover novel protein drug candidates as well as creating second generation biopharmaceuticals. Alligator Bioscience has successfully collaborated with many companies in the pharmaceutical and biotech industry, including AstraZeneca, Bayer HealthCare and Wyeth. For further general information please Contact: Alligator Bioscience AB Dr  Sibylle Lenz, CEO Scheelevägen 19A SE-223 70 Lund, Sweden Tel:  +46 (0)46-286 4284 Fax:  +46 (0)46-286 4290 [HUG#1443062] Press Release (PDF): This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Alligator Bioscience AB via Thomson Reuters ONE