Genetic Technologies Limited announced that on May 25, 2011 the company had filed suit in the US District Court for the District of Colorado, asserting infringement of its primary non-coding patent against Agilent Technologies Inc.; Bristol-Myers Squibb Company; Eurofins STA Laboratories Inc.; GlaxoSmithKline PLC; Hologic Inc.; Merial LLC; Navigenics Inc.; Neogen Corporation; Pfizer Inc.; and 454 Life Sciences Corporation.
The new suit is in addition to a six-party suit filed in January 2011 in the US District Court for the Western District of Texas for infringement of the same technology. Both suits follow on from the highly successful first assertion programme which commenced in February 2010 and concluded in April 2011 (refer ASX announcements dated February 16, 2010 and April 13, 2011, respectively). Akin to the first suit, the new cases will be prosecuted by the Company’s Colorado based law firm Sheridan Ross P C and, due to arrangements previously put into place, should not have a material adverse impact on Genetic Technologies’ finances. Indeed, since the time of filing of the first assertion suit, Genetic Technologies has secured approximately $14.5 million in overall licensing revenues.
Dr Paul MacLeman, CEO, Genetic Technologies said “We have been extremely pleased with the success of the first assertion suit.” Dr MacLeman went on to say “The Company is very confident in its non-coding DNA intellectual property position and has built up an excellent working relationship with Sheridan Ross P C. The new assertion suits further build on our strategy of systematizing GTG’s existing successful out-licensing program, as we seek to maximize the value of the company’s patents and consequent returns to its shareholders to finance the development of the company’s cancer diagnostics strategy.”
Genetic Technologies has now licensed its non-coding DNA technology to over 55 companies in a wide variety of life sciences industries. To date, over $70 million in revenues has been generated from the granting of these licenses.
Genetic Technologies was an early pioneer in recognizing important new applications for “non-coding” DNA (Deoxyribonucleic Acid). The company has since been granted patents in 24 countries around the world, securing intellectual property rights for particular uses of non-coding DNA in genetic analysis and gene mapping across all genes in all species.
The BREVAGen breast cancer risk stratification test is a novel genetic test panel that examines a patient's blood sample to detect the absence or presence of certain common genetic variations (SNPs) associated with an increased risk for developing breast cancer.