PARIS, July 6 /PRNewswire-FirstCall/ -- Cellectis (Alternext: ALCLS), the French genome engineering specialist, announced today that the Paris Tribunal de Grande Instance has dismissed the claims filed by Taconic Artemis and Taconic Farms Inc in December 2008 against Cellectis' termination for breach of its license to homologous recombination patents.
The third chamber of the Tribunal de Grande Instance decided on Tuesday, June 29, that the agreement under which Cellectis had granted Taconic a sublicense to the patents (WO 90/11354) relating to certain uses of homologous recombination to perform targeted modifications in the genomic DNA of eukaryotic cells was legitimately terminated on August 6, 2008, for breach of the contractual terms by Taconic.
Consequently since August 6, 2008, the plaintiffs, Taconic and Taconic Artemis, have had no right under said patents to create and sell transgenic animal models. Furthermore, this decision confirms that the products sold by Taconic, namely transgenic animals constructed using the teaching of the patents, could not and still cannot be bred by a third party.
The Court recognized that Cellectis had suffered losses and damages, for which Cellectis will receive financial compensation.
An extract of the Tribunal de Grande Instance judgment is available on Cellectis' website http://www.cellectis.com/en/news-events/.
Cellectis is a pioneer in the field of genome engineering. The company designs and markets innovative tools -meganucleases. These molecular scissors enable targeted modifications to DNA, with applications in the research, biomanufacturing, agrobiotechnology and therapeutic sectors.
To date, Cellectis has formed over 20 academic research partnerships and has established more than 50 agreements with pharmaceutical laboratories, seed producers and biotech companies across the world. The company holds exclusive rights to a portfolio of over 260 patents granted or pending.
Since 2007, Cellectis has been listed on the NYSE-Euronext Alternext market (code: ALCLS) in Paris and has secured over 70 million euro in funding since inception.
More information at www.cellectis.com
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This press release and the information contained herein do not constitute an offer to sell or subscribe, or a solicitation of an offer to buy or subscribe, for shares in Cellectis in any country. This press release contains forward-looking statements that relate to the Company's objectives. Such forward-looking statements are based on the current expectations and assumptions of the Company's management only and involve risk and uncertainties. Potential risks and uncertainties include, without limitation, whether the Company will be successful in implementing its strategies, whether there will be continued growth in the relevant market and demand for the Company's products, new products or technological developments introduced by competitors, and risks associated with managing growth. Unfavorable developments in connection with these and other risks and uncertainties described, in particular, in the Company's prospectus prepared in connection with its IPO and on which the French Autorite des marches financiers ("AMF") granted its visa no. 07-023 on January 22, 2007, could cause the Company to fail to achieve the objectives expressed by the forward-looking statements above.
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