Re Agreement
August 01 2002 - 3:23AM
UK Regulatory
RNS Number:3854Z
Axis-Shield PLC
1 August 2002
1 August 2002
Axis-Shield announces agreement with Sangui Biotech
Axis-Shield plc ("Axis-Shield) today announces that it has reached a successful
agreement with Sangui Biotech Inc., USA regarding an alleged patent infringement
on Axis Shield's Carbohydrate Deficient Transferrin (%CDT) assay, used for the
detection of excessive alcohol consumption. Sangui has agreed to cease selling
kits worldwide within 90 days. In addition, Sangui has agreed to sell
Axis-Shield its entire CDT business, which includes its customer lists,
trademarks and goodwill of its existing alcohol related products for US$100,000.
Commenting, Svein Lien, Chief Executive Officer said:
"This agreement strengthens the position of Axis-Shield as the market leader
within the field of diagnostics for alcohol related disease as it will give
further access to the lucrative US market."
Enquiries:
Axis-Shield plc Tel: 00 47 922 893 23
Svein Lien, Chief Executive Officer
Financial Dynamics Tel: +44 (0) 207 831 3113
Fiona Noblet
This information is provided by RNS
The company news service from the London Stock Exchange
END
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