I thought that these two press releases might be of interest to those who have invested or are thinking of investing in OSTE or GNS.
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Corporate Bulletin
GenSci Regeneration Sciences Inc. (the "Company") today released the text of an announcement by its subsidiary, GenSci Regeneration Laboratories, Inc., of Irvine, California.
"IRVINE, CA - GenSci Regeneration Laboratories, Inc. ("GenSci Labs") has filed suit against Osteotech, Inc. ("Osteotech") of Eatontown, New Jersey, charging that Osteotech's Grafton(R) Flex product infringes certain claims of US Patent Nos. 4,394,310 and 4,472,840 owned by GenSci Labs. The complaint also charges Osteotech with tortious and negligent interference with business expectancy and inducing breach of contract. The complaint seeks an injunction against further infringement through the sale of the Grafton(R) Flex product
and unspecified damages.
GenSci Regeneration Sciences Inc. is a publicly traded company, listed on the Vancouver Stock Exchange, dedicated to the development of innovative bone and tissue regeneration technologies through its Bioimplant Division while aggressively moving toward the development of a new family of compounds for the treatment and diagnosis of osteoporosis through its Pharmaceutical Division. GenSci comprises corporate offices in Vancouver, BC; Mississauga, ON and Irvine, CA; and research facilities in Oakville, ON and Irvine, CA,
GENSCI REGENERATION SCIENCES INC.
(signed)
James S. Trotman, MD President and CEO
THE VANCOUVER STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE FOR ACCURACY OF THIS RELEASE.
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Osteotech Files Patent Infringement Suit
Monday, February 2, 1998 07:43 AM
> EATONTOWN, N.J. -- On January 16, 1998, Osteotech, Inc. (Nasdaq:OSTE) filed a lawsuit in the U.S. District Court in Newark,
New Jersey against GenSci Laboratories, Inc. and GenSci Regeneration Sciences, Inc. for patent infringement. In the lawsuit,
Osteotech accuses GenSci of violating claims of at least one patent issued to Osteotech involving the Company's Grafton(R)
DBM process, by making, using, and/or selling the invention claimed in the patent without permission or license from
Osteotech. The GenSci products are marketed under the names DynaGraft Gel and DynaGraft Putty.
Approximately two (2) weeks after Osteotech's filing, GenSci filed a suit in the U.S. District Court for the Central District of
California accusing Osteotech of violating certain claims of two patents assigned to GenSci, by the processing of Grafton DBM
Flex. Osteotech's Grafton DBM Gel and Grafton DBM Putty products, which represent more than 90% of the Company's Grafton
DBM revenues, are not involved in this law suit. The suit also contains claims against Osteotech for alleged tortious
interference with a business expectancy of GenSci.
Osteotech intends to vigorously pursue its claims against GenSci and also believes GenSci's subsequently filed claims are
wholly without merit.
Osteotech, Inc., headquartered in Eatontown, New Jersey, is a leading processor of human bone and bone connective tissue
for transplantation and an innovator in the development and marketing of biomaterial and implant products for musculoskeletal
surgery. |
