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Biotech / Medical : QLT PhotoTherapeutics (QLTI) -- Ignore unavailable to you. Want to Upgrade?

To: Davy Crockett who wrote (1261)	9/24/2002 9:29:21 AM
From: tuck	Read Replies (1) \| Respond to of 1321

>>VANCOUVER, Sept. 24 /PRNewswire-FirstCall/ - QLT Inc. (NASDAQ: QLTI - News; TSE: QLT - News) reported today that the United States District Court for the District of Massachusetts has entered judgment in favor of QLT on all claims brought against it by Massachusetts Eye and Ear Infirmary ("MEEI") in a lawsuit commenced by MEEI on April 24, 2000 (Civil Action No. 00-10783-JLT). In granting summary judgment for QLT on each of the eight counts of the complaint, the court determined that there was no merit to any of MEEI's claims, and that QLT was entitled to judgment as a matter of law. MEEI's complaint had alleged breach of contract, misappropriation of trade secrets, conversion, misrepresentation, unjust enrichment, and unfair trade practices and sought damages, an injunction, and other relief. "From the day this suit was brought, we were confident that there was no basis to MEEI's claims, and we are gratified that after reviewing the evidence, the district court agreed," said Paul Hastings, president and chief executive officer of QLT. MEEI's lawsuit was brought in connection with a dispute involving U.S. Patent No. 5,798,349 (the "'349 Patent"), which claims certain inventions relating to the use of verteporfin as the photoactive agent in the treatment of certain eye diseases including Age Related Macular Degeneration ("AMD"). The '349 Patent was issued on August 25, 1998, to QLT, MEEI and Massachusetts General Hospital ("MGH") as co-owners. On May 1, 2001, MEEI brought a second lawsuit in the District of Massachusetts (Civil Action No. 01-10747-EFH) against both QLT and Novartis Ophthalmics, Inc. that lawsuit alleges infringement of United States Patent No. 6,225,303 (the "'303 Patent") issued to MEEI. The '303 Patent is derived from the same patent family as the '349 Patent and claims a method of treating unwanted choroidal neovasculature in a shortened treatment time using verteporfin. The patent application which led to the issuance of the '303 patent was filed and prosecuted by attorneys for MEEI and, in contrast to the '349 patent, named only MEEI researchers as inventors. In response to MEEI's second lawsuit, QLT and Novartis Ophthalmics brought counterclaims against MEEI requesting, among other things, that the court correct inventorship on the '303 Patent by naming researchers from QLT and Massachusetts General Hospital ("MGH") as joint inventors and declaring that QLT and MGH are co- owners of the '303 Patent. MGH subsequently intervened in the lawsuit and filed a complaint against MEEI similarly requesting correction of inventorship to name QLT and MGH researchers as joint inventors of the '303 Patent. This second suit is still pending.<< snip Cheers, Tuck