MARKHAM, ON, April 16 /CNW/ - Cytochroma Inc. announced that the lawsuit
filed in August 2006 by Genzyme Corporation in the United States District
Court, Western District of Wisconsin has been settled by the parties.
On August 8, 2006, Genzyme filed a complaint in the United States
District Court, Western District of Wisconsin against Cytochroma Inc.,
Proventiv Therapeutics LLC and three former Bone Care International employees.
The complaint, alleging misappropriation of Vitamin D-related trade secrets,
was amicably resolved and the case has been formally dismissed. The terms of
the settlement were not disclosed.
"Cytochroma has remained on track for meeting its financing and clinical
development milestones despite the intercurrent lawsuit," commented Dr. Alan
Lewis, Chairman of the Board. "The recent settlement with Genzyme adds further
momentum to Cytochroma for achieving its corporate objectives."
About Cytochroma Inc.
Cytochroma (www.cytochroma.com) is an integrated specialty pharmaceutical
company engaged in the development and commercialization of proprietary
products to treat and prevent the clinical consequences of diseases and
disorders related to vitamin D deficiency and chronic kidney disease (CKD).
The Company has an advanced portfolio of new products targeting vitamin D
deficiency and secondary hyperparathyroidism in patients with moderate to
severe CKD and end-stage renal disease. In addition, the Company has a
psoriasis candidate in Phase II clinical development, and is developing a
portfolio of candidates to address hyperphosphatemia in CKD including novel
antibody products. Cytochroma is a privately held company with offices in
For further information:
For further information: Eric J. Messner, Vice President, Commercial
Operations, (905) 479-5306 ext. 338, email@example.com