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:3/30/2017)... DC (PRWEB) , ... March 30, 2017 , ... ... and organizations submitted a letter to President Trump expressing their support for an ... medical doctors, two Ph.D. scientists and one medical journalist, will hold a press ...
(Date:3/29/2017)... ... March 29, 2017 , ... In the United States alone, ... each year develop other types of metastatic brain tumors(3). Though most meningiomas are benign, ... efforts focus on finding more effective treatment options, the San Diego Gamma Knife ...
(Date:3/29/2017)... ... ... the main cause of hay fever in the United States, with an estimated 95 percent ... to July each year; with the worst time for sufferers being June and July. ... ) provide an effective defense against grass pollen; they are proven in independent studies to ...
(Date:3/29/2017)... ... March 30, 2017 , ... Sublime Naturals and its founder, Kathy Heshelow, are ... it has been used for thousands of years. , "The West has caught on, ... " Turmeric: How to Use it For Your Wellness. Overcome Inflammation, Enemy of the ...
(Date:3/29/2017)... (PRWEB) , ... March 29, 2017 , ... ... three Hours at a Walgreens store in Mississippi. AngioGenesis Labs, makers of HeartBoost, ... Stores in two southeastern states. Ingredients in HeartBoost, an over the counter heart ...
Breaking Medicine News(10 mins):
(Date:3/29/2017)... Mar. 29, 2017 Research and Markets ... Market Size & Forecast By Type (Insource IONM, Outsource IONM), ... report to their offering. ... The global Intraoperative Neuromonitoring (IONM) market ... intraoperative neuromonitoring market is anticipated to witness significant growth in ...
(Date:3/29/2017)... Research and Markets has announced the addition of the "Global ... ... aesthetic devices market to grow at a CAGR of 8.12% during ... Devices Market 2017-2021, has been prepared based on an in-depth market ... landscape and its growth prospects over the coming years. The report ...
(Date:3/29/2017)... 29, 2017 Avelas Biosciences, Inc., a clinical stage oncology-focused ... today announced that Carmine N. Stengone , president and chief ... Needham & Company 16 th Annual Healthcare Conference on Wednesday, ... the Westin Grand Central Hotel in New York City ... ...
Breaking Medicine Technology: