| Court of Appeals Upholds Judgment in ImmuDyne's Favor |
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| Written by Globe NewsWire | |
| Wednesday, 24 June 2009 | |
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Florence, Kentucky - The Court of Appeals for the Fourth District of Texas issues an OPINION that upholds the earlier Judgment that ImmuDyne, Inc. (not BioPolymer Engineering d/b/a Biothera) is the owner of the following seven patents: (1) U.S. Patent No. 5,576,015 ("the '015 patent"), (2) U.S. Patent No. 5,702,719 ("the '719 patent"), (3) U.S. Patent No. 5,705,184 ("the '184 patent"), (4) U.S. Patent No. 5,519,009 ("the '009 patent"), (5) U.S. Patent No. 5,397,773 ("the '773 patent"), (6) Europatent No. 0,500,718 B1; and (7) Canadian Patent 2072145C (collectively, "the disputed patents").
The Court also upheld that ImmuDyne (Pink Sheets:IMMD) held an exclusive license to the '015 patent, '009 patent, and '773 patent beginning in 1998. Concerning a license issue only on the '184 and '719 patents, the Court of Appeals ordered this matter to be returned to the trial court for further evidence. ImmuDyne expects to fully prevail on this issue at the trial court. In addition, ImmuDyne cancelled any such possible conflicting license to Biothera due to Biothera's failure to pay required royalties. Thus, ImmuDyne does not view this matter as material going forward. Due to this one issue regarding licenses, the Court of Appeals remanded the award of attorneys fees for further consideration by the trial court. The Court of Appeals did uphold the basis for at least $325,000 in attorney's fees in ImmuDyne's favor, and ImmuDyne expects to prevail on this matter as well. ImmuDyne is the only lawful seller of products based upon these patents. |
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