Navigation Links
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 to comply with the court's order compelling arbitration.  In addition, the court excised its discretion to dismiss with prejudice, thereby precluding the plaintiffs from bringing the suit again.

Following the ruling, Dr. Zanetti stated, "The Court's decision to dismiss this case 'with prejudice' was expected.  I always believed that the lawsuit had no merit on either the facts or the law.  This is the fifth case brought against me by Cosmo entities or one of its officers.  Every case has been resolved favorably to me either by summary judgment or dismissal."

About Adamis Pharmaceuticals Corporation

Adamis Pharmaceuticals Corporation is 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.  Products Adamis currently in its specialty pharmaceutical pipeline include the Epinephrine Injection PFS syringe product for use in the emergency treatment of anaphylaxis, APC-1000 for the treatment of asthma and chronic obstructive pulmonary disease, and APC-3000, a HFA inhaled nasal steroid product for the treatment of allergic rhinitis.  Product candidates currently in development within its biotechnology division include TeloB-VAX, a novel cell-based therapeutic cancer vaccine, and three drug product candidates, APC-100, APC-200, and APC-300, for the treatment of prostate cancer and inflammation.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.  These statements relate to future events or our future results of operations or future financial performance, including, but not limited to the following statements: the ability to fund future product development; future revenues expected from any of the company's product candidates, assuming that they are developed and approved for marketing by the FDA and other regulatory authorities; and the intellectual property protection that may be afforded by any patents or patent applications relating to the company's technology.  Certain of these risks, uncertainties, and other factors are described in greater detail in Adamis' filings from time to time with the SEC, which Adamis strongly urges you to read and consider, all of which are available free of charge on the SEC's web site at http://www.sec.gov.  Except as required by law, Adamis expressly disclaims any obligation to update any forward-looking statements.

For Additional Information

David Marguglio
Senior Vice President, Corporate Development
Adamis Pharmaceuticals Corp.
Tel:  858- 412-7950
Email: dmarguglio@adamispharma.com


'/>"/>
SOURCE Adamis Pharmaceuticals Corporation
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Cumberland Pharmaceuticals Reports 2012 Annual Financial Results
2. DelMar Pharmaceuticals Announces Appointment of John K. Bell to Board of Directors
3. Spring Bank Pharmaceuticals Closes $10.5 million Series A Financing to fund Phase I Clinical Trials in HCV-infected Patients
4. StockCall Insight into Eli Lilly, Bristol-Myers Squibb, Astex Pharmaceuticals and Raptor Pharmaceuticals
5. Valeant Pharmaceuticals Reports 2012 Fourth Quarter Financial Results
6. Vanda Pharmaceuticals to Present at the Cowen and Company 33rd Annual Health Care Conference
7. Bioassociate Announces Initiation of Coverage on KaloBios Pharmaceuticals, Inc.
8. Jazz Pharmaceuticals Announces Participation At Two Investor Conferences In March
9. Optimer Pharmaceuticals Board of Directors Appoints Board Chairman, Dr. Henry McKinnell, Chief Executive Officer
10. Arena Pharmaceuticals to Present at the Cowen and Company 33rd Annual Health Care Conference
11. AcelRx Pharmaceuticals to Present at Two Upcoming Investor Conferences
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... 2016 According to a new ... Pen Needles, Safety Pen Needles), Needle Length (4mm, 5mm, ... Mode of Purchase (Retail, Non-Retail) - Trends & Global ... the market for the forecast period of 2016 to ... Billion by 2021 from USD 1.65 Billion in 2016, ...
(Date:6/24/2016)... , Belgium , June ... MKT: VNRX), today announced the appointment of Dr. ... of Directors as a Non-Executive Director, effective June ... Company,s Audit, Compensation and Nominations and Governance Committees.  ... Dr. Futcher will provide independent expertise and strategic ...
(Date:6/23/2016)...  MedSource announced today that it has selected ... of choice.  This latest decision demonstrates MedSource,s commitment ... clients by offering a state-of-the-art electronic data capture ... as the EDC platform of choice in exchange ... has long been a preferred EDC platform by ...
Breaking Medicine Technology:
(Date:6/26/2016)... ... , ... PawPaws brand pet supplements owned by Whole Health Supply ... health of felines. The formula is all-natural and is made from Chinese herbs that ... Cat Kidney Support Supplement Soft Chews are Astragalus Root Extract and Rehmannia Root ...
(Date:6/25/2016)... ... June 25, 2016 , ... Austin residents seeking Mohs surgery services, can ... Surgery and to Dr. Russell Peckham for medical and surgical dermatology. , Dr. Dorsey ... cancer. The selective fellowship in Mohs Micrographic Surgery completed by Dr. Dorsey was under ...
(Date:6/25/2016)... (PRWEB) , ... June 25, 2016 , ... As a ... Magna Cum Laude and his M.D from the David Geffen School of Medicine at ... returned to Los Angeles to complete his fellowship in hematology/oncology at the UCLA-Olive View-Cedars ...
(Date:6/24/2016)... CA (PRWEB) , ... June 24, 2016 , ... A ... procedures that most people are unfamiliar with. The article goes on to state that ... but also many of these less common operations such as calf and cheek reduction. ...
(Date:6/24/2016)... (PRWEB) , ... June 24, 2016 , ... ... Conference and Scientific Sessions in Dallas that it will receive two significant new ... the grants came as PHA marked its 25th anniversary by recognizing patients, medical ...
Breaking Medicine News(10 mins):