Navigation Links
Bionovo Announces Arbitration Decision in Lawsuit Filed by Former Officer - All Claims Denied
Date:6/11/2009

EMERYVILLE, Calif., June 11 /PRNewswire-FirstCall/ -- Bionovo, Inc. (Nasdaq: BNVI) announced today that an arbitration decision issued on June 10, 2009 has denied all claims against the company and its founders, Drs. Isaac Cohen and Mary Tagliaferri.

The decision was in reference to a suit filed by former Chief Financial Officer James P. Stapleton, alleging fraud, negligent misrepresentation and breach of oral contract stemming from Mr. Stapleton's separation from Bionovo. The binding arbitration took place on May 11 and 12, 2009, before Sherman W. Smith, Jr., JAMS.

"It is unfortunate that this arbitration was necessary at all. We are pleased that we have prevailed on all of the issues presented," said Isaac Cohen, O.M.D., Bionovo's Chairman and CEO.

There are some residual claims remaining, which were not subject to this arbitration. The Company hopes to resolve these quickly, now that the arbitrator has ruled on several key facts and legal issues in the case.

Bionovo, Inc.

Bionovo is a pharmaceutical company focused on the discovery and development of safe and effective treatments for women's health and cancer, markets with significant unmet needs and billions in potential annual revenue. The company applies its expertise in the biology of menopause and cancer to design new drugs derived from botanical sources which have novel mechanisms of action. Based on the results of early and mid-stage clinical trials, Bionovo believes they have discovered new classes of drug candidates within their rich pipeline with the potential to be leaders in their markets. Bionovo is headquartered in Emeryville, California and is traded on the NASDAQ Capital Market under the symbol, "BNVI". For more information about Bionovo and its programs, visit: http://www.bionovo.com.

Forward Looking Statements

This release contains certain forward-looking statements relating to the business of Bionovo, Inc. that can be identified by the use of forward-looking terminology such as "believes," "expects," or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including uncertainties relating to product development, efficacy and safety, regulatory actions or delays, the ability to obtain or maintain patent or other proprietary intellectual property protection, market acceptance, physician acceptance, third party reimbursement, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission, which are available at http://www.sec.gov. Bionovo, Inc. is under no obligation (and expressly disclaims any such obligation) to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.


'/>"/>
SOURCE Bionovo, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Bionovo Announces Closing of Public Offering of Common Stock
2. Bionovo Describes a New Class of Therapeutic Compounds
3. Bionovo Announces 2007 Financial Results and Highlights
4. Bionovo to Present at the Cambria Capital Investor Meeting
5. John D. Baxter, M.D. Joins Bionovos Board of Directors
6. Bionovo to Present at the Rodman & Renshaw 10th Annual Global Investment Conference
7. Bionovo to Present Recent Findings of BN108, its Anticancer Agent, at the 31st Annual San Antonio Breast Cancer Symposium
8. Willa A. Hsueh, M.D., Joins Bionovos Scientific Advisory Board
9. Bionovo Announces Cost Control Measures Taken
10. Bionovo Announces Presentation at the National Cancer Institute
11. Jan Ake Gustafsson, M.D., Ph.D., Joins Bionovos Scientific Advisory Board
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/24/2017)... (PRWEB) , ... May 24, 2017 , ... ... recently completed Course II of the HP3 (High-Performance Periodontal Practice) continuing education (CE) ... learning the latest advancements in his field by attending numerous CE courses each ...
(Date:5/24/2017)... ... May 24, 2017 , ... ... offering holistic pediatric dentistry options for its patients on Long Island, New York. ... entire physical well being, and is one of the biggest trends in dentistry ...
(Date:5/24/2017)... ... May 24, 2017 , ... Dymedix® ... diagnostics sensors, announced today it had completed the first phase of building a ... domestic and rest of world (ROW) authorized dealers specializing in polysomnography accessories. ...
(Date:5/23/2017)... MA (PRWEB) , ... May 23, 2017 , ... ... claim in North Carolina have remained steady since 2009, according to a Workers ... era. , The study Monitoring the North Carolina System: CompScope™ Benchmarks, 17th ...
(Date:5/23/2017)... , ... May 23, 2017 , ... ... and Reconstructive Surgeon Dr. Kevin Sadati, is pleased to announce a new treatment ... collagen and elastin in their face, neck, and body through a virtually pain-free, ...
Breaking Medicine News(10 mins):
(Date:5/10/2017)... , May 10, 2017  The Corporate Whistleblower ... employees of sleep therapy clinics to call us ... therapy clinic is involved in a substantial scheme ... in hearing from an employee of a medical ... a kickback scheme to provide medical practice groups with ...
(Date:5/9/2017)... -- Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), ... has earned a spot on Forbes, "America,s ... ranked among 500 U.S. employers as well as in ... Services. The annual Forbes rankings ... of over 30,000 employees across 25 industries. The survey ...
(Date:5/9/2017)... Ore. , May 9, 2017  Semler ... that provides technology solutions to improve the clinical ... financial results for the first quarter ended March ... our products enable our customers to identify when ... to intervene before events like heart attacks or ...
Breaking Medicine Technology: