Media Statement:
CYTOCHROMA AND GENZYME SETTLE LAWSUIT
Markham, Ontario, Canada — April
16, 2007 — Cytochroma Inc. announced that
the lawsuit filed in August 2006 by Genzyme Corporation in
the United States District Court, Western District of Wisconsin
has been settled by the parties.
On August 8, 2006, Genzyme
filed a complaint in the United States District Court, Western
District of Wisconsin against Cytochroma Inc., Proventiv
Therapeutics LLC and three former Bone Care International
employees. The complaint, alleging
misappropriation of Vitamin D-related trade secrets, was amicably
resolved and the case has been formally dismissed. The
terms of the settlement were not disclosed.
“Cytochroma has remained on track
for meeting its financing and clinical development milestones
despite the intercurrent lawsuit,” commented Dr. Alan Lewis, Chairman of the Board. “The
recent settlement with Genzyme adds further momentum to Cytochroma
for achieving its corporate objectives.”
About
Cytochroma Inc.
Cytochroma is
an integrated specialty pharmaceutical company engaged
in the development and
commercialization of proprietary products to treat
and prevent the clinical
consequences of diseases and disorders related to vitamin
D hormone deficiency.
The Company has an advanced portfolio of new products
targeting vitamin D deficiency and secondary hyperparathyroidism
in patients with moderate to severe chronic kidney
disease and
end-stage
renal disease. In addition, the Company is developing
novel
vitamin D therapies to treat hyperproliferative disorders
such as cancer and psoriasis.
For information
contact:
Eric J. Messner
Vice President
Commercial
Operations
905-479-5306 ext.
338
eric.messner@cytochroma.com
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