re: bresagen-anyone know??? jundalaAny idea what the outcome of...

re: bresagen-anyone know??? jundala

Any idea what the outcome of the court case was.
See below

FROM THEIR WEBSITE
Adelaide-based biotechnology company, BresaGen Limited, today confirmed that it has instituted Proceedings in the Supreme Court of South Australia against the Institute of Medical and Veterinary Science, Medvet Science Pty Ltd and Professor Angel Lopez who were responsible for the initial research in relation to BresaGen’s anti-cancer drug E21R and who licensed E21R to BresaGen.

In July last year BresaGen terminated its collaborative E21R development agreement with British Biotech in Oxford, UK. The decision came after British Biotech was unable to repeat certain published preclinical data supplied by IMVS, Medvet and Professor Lopez. The new studies raised concerns about E21R-induced cell killing or apoptosis in acute myeloid leukaemia (AML).

The Company has tried to find a way of settling this dispute without litigation but now feels that it has no choice but to pursue the matter through the courts. Direct costs alone incurred in relation to this project are in the order of $7 million but the Company will be seeking additional costs which have not yet been fully quantified.