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Biotech / Medical : HuMAB companies
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To: nigel bates who started this subject9/10/2002 9:19:55 AM
From: nigel bates   of 1022
 
BERKELEY, Calif. and SAN DIEGO, Sept. 10 /PRNewswire-FirstCall/ -- XOMA Ltd. (Nasdaq: XOMA - News) and Biosite Incorporated (Nasdaq: BSTE - News) announced today that they have resolved all outstanding disputes regarding patent and licensing issues so as to permit each the freedom to operate its business. The parties have agreed to dismiss the pending legal proceedings between XOMA Ltd. and affiliates and Biosite.
Agreements reached between the two companies include the following:

* XOMA will receive a royalty-free, irrevocable and perpetual license to practice Biosite's "Dower" patents (that are related to the practice of multi-chain antibody phage display) with regard to certain activities, as well as an assignment of Biosite's antibody expression technology which was announced earlier this year. Biosite will receive a non-exclusive license to the assigned patent rights.
* Biosite will receive a royalty-free, irrevocable and perpetual license to utilize XOMA's bacterial cell expression technology for production of antibodies as well as for the development of new antibody products. This license also will allow Biosite to transfer antibodies to its Biosite Discovery partners.
* XOMA will have the right to present an agreed number of targets to Biosite and receive expression libraries including screened high- affinity antibodies for each target.
* XOMA's license to Biosite for the LBP diagnostic assay is terminated by mutual agreement. Those rights were obtained by Biosite in 1996 but were never commercialized.
* The settlement includes entry of a consent judgment dismissing the pending legal proceedings with prejudice.

No further details of the settlement were disclosed.
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