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(Â® )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
"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.Â "Alligator has been successful in all instances up to this point in
defending our proprietary FIND(Â®) 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(Â®) technology to its fullest extent."
About Alligator Bioscience AB
Alligator Bioscience discovers and develops biopharmaceuticals using protein
optimization technologies, including its proprietary FIND(Â®) (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
For further general information please visitwww.alligatorbioscience.com.
Alligator Bioscience AB
DrÂ Sibylle Lenz, CEO
SE-223 70 Lund, Sweden
Tel:Â Â +46Â (0)46-286 4284
Fax: Â +46 (0)46-286 4290
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Source: Alligator Bioscience AB via Thomson Reuters ONE