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Adamis Pharmaceuticals Prevails in License Dispute Litigation
Date:2/28/2013

SAN DIEGO, Feb. 28, 2013 /PRNewswire/ -- Adamis Pharmaceuticals Corporation (OTCQB: ADMP), a biopharmaceutical company engaged in the development and commercialization of specialty pharmaceutical and biotechnology products in the therapeutic areas of respiratory disease, allergy, oncology and immunology, announced that a court entered an order of dismissal with prejudice of a complaint filed against Adamis regarding a dispute over one of its license agreements, resolving the case in Adamis' favor.

As has been previously reported in the company's filings with the Securities and Exchange Commission, Cosmo Bioscience, Inc. et. al. v. Adamis Pharmaceuticals Corp. and Maurizio Zanetti was filed in San Diego Superior Court in May 2010.  Plaintiffs were affiliated Cosmo Bioscience entities that claimed to have sublicensed certain patented technology from Eurogen BV, an entity wholly owned and controlled by Maurizio Zanetti .  Plaintiffs claimed that Dr. Zanetti wrongfully terminated their license, and further that Dr. Zanetti, through Nevagen, LLC, another entity that he controlled, improperly licensed the same technology to Adamis in violation of the sublicense agreement with plaintiffs.  Plaintiffs asserted a single claim for declaratory relief seeking a declaration that the Cosmo sublicense was in full force and effect, and that the Adamis license was invalid.  The lawsuit was stayed in 2010, and the court ordered that the matter be arbitrated in the Italian courts pursuant to the arbitration provisions of the sublicense agreement.

In December 2012, Adamis and Dr. Zanetti filed motions to dismiss the lawsuit because of the plaintiffs' failure to proceed with arbitration.  The court heard the motions in February 2013 and entered an order dismissing the case because of the plaintiffs' failure
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SOURCE Adamis Pharmaceuticals Corporation
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