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Biotech / Medical : Ciphergen Biosystems(CIPH):
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To: Biomaven who wrote (39)3/18/2002 3:19:47 PM
From: tuck  Read Replies (1) of 510
 
Peter,

That LumiCyte PR seems to refer to the Drug Discovery Market, not the Life Sciences Market. From the same SEC filing:

>>1.8 "DRUG DISCOVERY MARKET" shall mean Laboratories engaged in
discovering new drugs for potential preclinical development, clinical
development and commercialization.<<

So it seems to me Lumicyte is in breach, because of this wording in section 2.1(c), which sure makes it look like selling information in the Drug Discovery Market is CIPH's field:

"In addition, IllumeSys may use the Baylor Technology, Improvements and the MAS Technology in the Drug Discovery Market but only for the purpose of developing and providing data and other information to Third Parties about the characteristics of compounds which IllumeSys may be asked to analyze for such Third Parties."

As I read this, the only thing CIPH can't sell and LumiCyte can is the technology. I presume the exclusivity granted to CIPH means LumiCyte can sell only the technology in this market. The LumiCyte PR suggests a clear breach, and I can see why CIPH went after them.

It is less clear to me how CIPH might be violating the agreement, though LumiCyte countersued with vague allegations (you reckon the specifics are available for viewing in a courthouse somewhere?). What are you seeing that makes you even mention the possibility of termination?

TIA & Cheers, Tuck
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