>>Health Discovery Corporation Settles Patent Infringement Suit against Ciphergen Biosystems, Inc.
Last update: 7/6/2007 9:27:09 AM
Ciphergen to License HDC's Support Vector Machine Technology
SAVANNAH, Ga., Jul 06, 2007 (BUSINESS WIRE) -- Health Discovery Corporation ("HDC") (HDVY) today announced that its patent infringement action against Ciphergen Biosystems, Inc. has been settled. Under the terms of the agreement, Ciphergen will pay $600,000 to HDC and receive a non-exclusive license to use HDC's support vector machines in applications for Ciphergen's proprietary SELDI-based technologies. Ciphergen also dropped all counter-claims against HDC.
"This settlement is an excellent resolution for our company and shareholders," said Stephen D. Barnhill, M.D., HDC's Chairman and CEO. "It is also the second favorable outcome in both of the patent infringement suits we've filed, adding credence and momentum to our ongoing licensing efforts. HDC remains firmly committed to monetizing our valuable intellectual property through close collaboration and development with our business partners, but we will also continue to protect our patent portfolio through robust enforcement action when necessary."
Savannah-based Health Discovery Corporation (HDVY) is uniquely positioned in the field of pattern recognition technology. Through the application of its patent protected technology, HDC is a biology-oriented biomarker discovery company providing all aspects of First-Phase Biomarker Discovery sm. The Company's SVM and RFE-SVM pattern recognition tools have significant application potential in other sizable commercial markets such as radiology, financial markets, Internet search and spam, homeland security, and other areas where analysis of large volumes of complex data is required.<<
Ciphergen hasn't filed this as an 8-K or PR yet. Ciphergen is also changing its name to Vermillion and has reserved the ticker VRML. We'll see which part of the Naz it gets to trade on.
Cheers, Tuck |
