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Biotech / Medical : Nuvelo (Nasdaq: NUVO) -- Ignore unavailable to you. Want to Upgrade?

To: Brasco One who wrote (122)	2/21/2000 12:27:00 PM
From: AnnieO	Read Replies (1) \| Respond to of 286

From HYSQ own press release The Company has incurred substantial costs and expended substantial personnel time in asserting the Company's patent rights against Affymetrix and may continue to incur such costs in asserting its patent rights against Affymetrix or others. There can be no assurance that the Company will be successful in asserting its patent rights. Failure to successfully enforce its patent rights or the loss of these patent rights covering SBH technology also could remove a legal obstacle to competitors in designing platforms with similar competitive advantages. ITEM 1. LEGAL PROCEEDINGS On March 3, 1997, the Company brought suit against Affymetrix in the U.S. District Court for the Northern District of California, San Jose Division, alleging infringement by Affymetrix of the Company's U.S. Patents Nos. 5,202,231 and 5,525,464 , On May 5, 1997, the Company filed an Amended Complaint. On December 9, 1997, the Company filed a second lawsuit against Affymetrix which alleges infringement by Affymetrix of the Company's patent No. 5,695,940 On April 22, 1998 the two cases were consolidated. On May 19, 1997,Affymetrix filed an Answer and Affirmative Defenses to the First Amended Complaint to Hyseq I and also filed a counterclaim against HYSQ. . On June 9, 1997, the Company filed areply to the counterclaim December 28, 1997 A similar answer and counterclaim was filed by Affymetrix in December 28, 1997 and a similar reply to the counterclaim was filed by HYSQ. January 29, 1998. On August 1, 1997 (Hyseq I), and on March 28, 1998 an initial case management conference for each case was held by the Court and a pre-trial schedule was entered by the Court. November 17 and 18, 1998 a claims construction hearing occurred, but the court has yet to render its decision on those issues. On August 18, 1998, Affymetrix filed suit against HYSQ alleging that the Company infringed two of Affymetrix' U.S. patents September 1, 1998 Affymetrix filed an amended complaint alleging infringement of another of Affymetrix U.S. patents. On July 12, 1999, Affymetrix filed an amended answer and counterclaim that alleges the additional defense that the patents were obtained through inequitable conduct. HYSQ and Affymetrix are currently engaged in pretrial discovery during which documents are being exchanged and depositions are being taken. This litigation is at an early stage and there can be no assurance that the Company will prevail in the claim. On June 30, 1999, the Court granted Hyseq's motion for a 120-day extension to the case management schedule. On July 1, 1999, Judge Fern Smith, to whom the case was assigned, began a planned leave of absence . As a result, the parties have been informed that the case will be reassigned to another judge in the Northern District. No reassignment has been made as of this date. I think I got all the dates correct. It was difficult wading through all the claims. Seems to me only the lawyers are making any money.