SAN DIEGO, Sept. 22 /PRNewswire-FirstCall/ -- IMCOR Pharmaceutical Co.
(Pink Sheets: ICPH), Alliance Pharmaceutical Corp.
(OTC Bulletin Board: ALLP) and its wholly owned subsidiary, Molecular
Biosystems, Inc., today announced that the companies have concluded an
agreement with GE Healthcare Ltd. (f/k/a Amersham plc, Amersham Health, Inc.
and Amersham Health AS), resolving disputed patent claims in the case
captioned IMCOR Pharmaceutical Co, Alliance Pharmaceutical Corp. and Molecular
Biosystems Inc. v. Amersham Health Inc., Amersham Health AS and Amersham plc.,
Civil Action No. 03-2853 (SRC), filed in the United States District Court,
District of New Jersey. Under the terms of the settlement, all parties
granted each other a non-exclusive, royalty-free cross-license with the right
to sub-license their respective ultrasound contrast agents.
Under the terms of the agreement, the parties will have the right to
further develop and commercialize their respective ultrasound contrast imaging
agents without risk of infringing the other company's patent rights. In
addition, GE Healthcare will pay $1 million to IMCOR and $200,000 to Alliance
for a fully paid-up license. Concurrent with the license agreement, IMCOR and
Alliance reached an agreement freeing each party of its continuing obligations
under the original Imagent(R) (perflexane lipid microspheres) Asset Purchase
Agreement and providing for the allocation between the parties of the proceeds
of any future transaction involving the disposition of Imagent(R).
"We are pleased to complete this settlement agreement with GE Healthcare,
a highly respected company both developing and marketing imaging products
worldwide," said Jack DeFranco, Senior Vice President and Chief Operating
Officer of IMCOR. "This agreement is important because it allows IMCOR to
consider various alternatives for its Imagent(R) asset, including, seeking
worldwide licensing partners for the continued development and marketing of
Imagent(R), engaging in a sale of some or all of this asset, or engaging in a
merger or other material transaction."
About IMCOR
IMCOR Pharmaceutical Co. is a specialty pharmaceutical company developing
and marketing innovative imaging products including Imagent(R), its current
ultrasound contrast agent. For more information on IMCOR Pharmaceutical Co.,
visit http://www.imcorpharma.com.
About Alliance
Alliance Pharmaceutical Corp., founded in 1989, is a development-stage
pharmaceutical company that is currently focused on developing its lead
product, Oxygent(TM). Alliance is currently the only company that has
advanced a synthetic PFC emulsion-based oxygen therapeutic into late-stage
multi-center international clinical trials in both Europe and North America.
Alliance is developing Oxygent(TM) as an intravascular oxygen therapeutic,
based on its proprietary PFC and surfactant technologies.
Statements in this release that are not strictly historical are
"forward-looking" statements made pursuant to the safe harbor provision of the
Private Securities Litigation Reform Act of 1995. Forward-looking statements
involve known and unknown risks that may cause IMCOR's or Alliance's, as the
case may be, actual results in the future to differ materially from expected
results. These risks and uncertainties include the ability of either company
to: obtain necessary financing to support its development and
commercialization programs, maintain and defend intellectual property
protection for its proprietary products, avoid infringing intellectual
property rights of third parties, successfully market its approved product,
develop additional products and obtain regulatory approval for their use, and
manufacture or obtain supplies of drug product. These and other risks are
described and qualified in their entirety by cautionary language and risk
factors set forth in IMCOR's filings from time to time with the Securities and
Exchange Commission. In addition, Alliance refers you to cautionary
information contained in documents Alliance files with the Securities and
Exchange Commission from time to time, including the last Form 10-KSB and Form
10-QSB, and those risk factors set forth in the most recent registration
statement on Form SB-2 (File No. 333-119428). Neither Alliance nor IMCOR is
under any obligation (and expressly disclaims any obligation) to update or
alter its forward-looking statements, whether as a result of new information,
future events, or otherwise.
Contact for further information in the U.S.:
Corporate Communications
Alliance Pharmaceutical Corp.
San Diego, CA
(858) 410-5275
SOURCE Alliance Pharmaceutical Corp.; IMCOR Pharmaceutical Co.
 back to top
Related links:
http://www.imcorpharma.com
CONTACT:
Corporate Communications, Alliance
Pharmaceutical Corp., +1-858-410-5275
|
