TET Systems GmbH & Co. KG
TET Systems and Pharmasset Settle Patent Litigation
TET Systems GmbH & Co. KG / Legal Matter/Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- TET Systems Holding GmbH & Co. KG ('TET Systems'), a worldwide leader in controlled gene expression, today announced that TET Systems and Pharmasset, Inc. have settled patent litigation between the companies surrounding TET Systems' patented gene expression technology. As part of the confidential settlement, the parties agreed to dismiss the litigation with prejudice and Pharmasset agreed to take a license under TET Systems' portfolio of systems for efficient, precise, and reversible control over both timing and level of gene expression in eukaryotic cells. Under the terms of the agreement, Pharmasset will, among other things, make an undisclosed payment to TET Systems. TET Systems was founded by Prof. Dr. H. Bujard and his colleagues. Today, TET Systems' technology is the most widely used method to control gene expression in higher organisms. 85% of the world's leading pharmaceutical companies license the Tet technology and the broad usage of the Tet Technology is demonstrated by more than 6,200 publications in peer-reviewed journals (June 2009). About TET Systems TET Systems Holding is a privately held company located in Heidelberg, Germany. TET Systems Holding was founded by Prof. Dr. H. Bujard and colleagues based on their invention of the Tet Technology, the most widely used method to control gene expression in higher organisms. TET Systems Holding owns a broad patent portfolio covering the technology organized in six patent families comprising 31 granted patents and 14 patent applications. TET Systems markets licenses to the Tet Technology through its subsidiary IP Merchandisers. To date, more than 150 organizations have licensed the TET Technology including academic institutions and research foundations. The largest group of partners are pharmaceutical and biotech companies, with 17 of the top 20 BIG Pharma (2006) being TET Technology licensees. Contact: TET Systems Holding Dr. Ernst Böhnlein Chief Executive Officer Phone: +49 6221 588 0400 boehnlein@tet-systems.com 25.08.2009 Financial News transmitted by DGAP ----------------------------------------------------------------------
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