University of Florida Research Foundation and Diamyd Medical settle lawsuitThursday, 17 November 2011
University of Florida Research Foundation, Incorporated (“UFRF”), and Diamyd Medical AB today jointly announced that they have settled the breach of contract litigation that UFRF filed in the United States Federal District Court in Florida against Diamyd Medical in January 2011.
AdvertisementThe dispute related to an exclusive license agreement between UFRF and Diamyd Medical, and to a sublicense of the rights under the exclusive license agreement between Diamyd Medical and Ortho-McNeil-Janssen Pharmaceuticals, Inc., which sublicense involved rights to the GAD65-based drug candidate Diamyd®.
UFRF and Diamyd Medical have amicably settled their dispute for an undisclosed settlement amount. The settlement amount is in line with what Diamyd Medical has reserved in its accounts as per August 31, 2011 regarding litigation claims. UFRF and Diamyd Medical declined further comment on the matter, citing the confidentiality of their settlement.
Bases on press release
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