Federal Circuit Affirms Decision That Dyax Does Not Infringe
Wednesday October 1, 7:30 am ET
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct. 1, 2003--Dyax Corp. (Nasdaq: DYAX - News) announced today that on September 23, 2003, the United States Court of Appeals for the Federal Circuit (CAFC) issued a ruling that affirms the decision of the United States District Court for the District of Massachusetts granting summary judgment that Dyax Corp. does not infringe three patents (U.S. Patents 4,359,535, 4,528,266 and 5,866,363) asserted by Dr. George Piecznik (the plaintiff). The plaintiff has filed a petition for certiorari with the United States Supreme Court for review of the decision by the CAFC. The plaintiff recently filed a similar action in the United States District Court for the Southern District of New York. In that action, Dr. Pieczenik alleges that Dyax Corp. (and each of several other defendants) infringes U.S. Patent 6,605,448, which issued on August 12, 2003.
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"We are confident that the Federal Circuit Court's decision effectively brings to an end the action that has been pending since December 17, 1999. The 488' patent in the newly filed action is a continuation of the '363 patent at issue in the 1999 suit just reviewed in the Federal Circuit decision. The issues presented in the new suit are very similar to the issues presented in the 1999 suit. Dyax Corp. will again defend against Dr. Pieczenik's allegations, and we look forward to seeking dismissal of all actions brought forth by Dr. Piecznick," commented Ivana Maravic-Magovcevic, Vice President Legal Affairs and Chief Patent Counsel for Dyax.
Dyax Corp.
Dyax Corp. is a biopharmaceutical company principally focused on the discovery, development and commercialization of therapeutics for inflammatory conditions and in oncology. Dyax currently has two recombinant small proteins in clinical development, DX-88 and DX-890. DX-88 is being studied in phase II clinical trials for the treatment of hereditary angioedema in a joint venture with Genzyme Corporation. Dyax is also studying DX-88 in a phase I/II clinical trial for use during cardiopulmonary bypass surgery. DX-890 is being studied in phase IIa clinical trials for the treatment of cystic fibrosis in collaboration with Debiopharm, S.A. Dyax utilizes its proprietary phage display technology to rapidly identify a broad range of recombinant protein, peptide, and fully human monoclonal antibody compounds that bind with high affinity and specificity to targets of interest, with the objective of selecting those compounds with the greatest potential for advancement into clinical development. Dyax leverages broadly its core phage display technology through revenue generating licenses and collaborations in therapeutics and in non-core areas of affinity separations, diagnostic imaging, and research reagents. Through its subsidiary, Biotage, Inc., Dyax develops, manufactures and sells chromatography separations systems and products to pharmaceutical companies worldwide for drug discovery and purification. For more information on Dyax Corp., please visit its website at www.dyax.com.
Dyax Disclaimer
This press release contains forward-looking statements, including statements regarding Dyax's intellectual property position. Statements that are not historical facts are based on Dyax's current expectations, beliefs, assumptions, estimates, forecasts and projections about the industry and markets in which Dyax competes. The statements contained in this release are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed in such forward-looking statements. Important factors which may affect Dyax's intellectual property position include the risks that: Dyax may not be able to obtain and maintain intellectual property protection for its products and technologies; others may develop technologies or products superior to Dyax's technologies or products; and other risk factors described or referred to in Dyax's most recent Annual Report on Form 10-K and other periodic reports filed with the Securities and Exchange Commission. Dyax cautions investors not to place undue reliance on the forward-looking statements contained in this release. These statements speak only as of the date of this release, and Dyax undertakes no obligations to update or revise these statements, except as may be required by law. Dyax and the Dyax logo are the registered trademarks of Dyax Corp.
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Contact:
Dyax Corp.
Ivana Maravic-Magovcevic, 617-250-5759
E-mail: imaravic@dyax.com |
