Ciphergen Biosystems Licenses More Than 25 Patents From Health Discovery Corporation
July 10 2007 - 12:10PM
PR Newswire (US)
--Settles Patent Suit-- FREMONT, Calif., July 10
/PRNewswire-FirstCall/ -- Ciphergen Biosystems, Inc. (NASDAQ:CIPH)
today announced that it had entered into a license and settlement
agreement with Health Discovery Corporation ("HDC") (OTCBB: HDVY)
pursuant to which it licensed more than 25 patents covering HDC's
support vector machine technology for use with SELDI technology.
Under the terms of the agreement, Ciphergen receives a world-wide,
royalty-free, non-exclusive license for life sciences and
diagnostic applications of the technology and has access to any
future patents resulting from the underlying intellectual property
in conjunction with use of SELDI systems. In connection with the
agreement, Ciphergen will pay a total of $600,000 over a two-year
period to HDC. The agreement settles all disputes between the
companies. "With this agreement, we are pleased to have enabled
Ciphergen and SELDI users easy and flexible use of HDC's
intellectual property," said Gail S. Page, Chief Executive Officer
and President. "Moreover, we were able to obtain a broad,
comprehensive license without significant expenditure of time and
dollars." About Ciphergen Ciphergen Biosystems, Inc. is dedicated
to the discovery, development and commercialization of novel
high-value diagnostic tests that help physicians diagnose, treat
and improve outcomes for patients. Ciphergen, along with its
scientific collaborators, has ongoing diagnostic programs in
oncology/hematology, cardiology and women's health with an initial
focus in ovarian cancer. Ciphergen is based in Fremont, California.
More information about Ciphergen can be found on the Web at:
http://www.ciphergen.com/ . Safe Harbor Statement This news release
contains forward-looking statements that involve significant risks
and uncertainties, including those that can be found in Ciphergen's
Form 10-K for the year ended December 31, 2006, and in Ciphergen's
periodic reports on Form 10-Q and Form 8-K. Statements in this
release are based upon information available to Ciphergen as of the
date of the release. Information and announcements involving
Ciphergen's expectations, beliefs, hopes, plans, intentions or
strategies regarding the future are forward- looking statements for
purposes of the safe harbor provisions under the Private Securities
Litigation Reform Act of 1995. We claim the protection of such safe
harbor, and disclaim any intent or obligation to update any
forward- looking statement contained in this document as a result
of new information, future events or otherwise. These statements
are not guarantees of future performance and actual results could
differ materially from our current expectations. NOTE: Ciphergen is
a registered trademark of Ciphergen Biosystems, Inc. DATASOURCE:
Ciphergen Biosystems, Inc. CONTACT: Investor Relations, Sue
Carruthers of Ciphergen Biosystems, Inc., +1-510-505-2233; or
Media, Lori Murray of WeissComm Partners, +1-415-946-1070 Web site:
http://www.ciphergen.com/
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