PharmaStem Wins Judgment in Umbilical-Cord Patent Case

Law360, New York (November 3, 2003, 12:00 AM EST) -- A jury in the U.S. District Court for the District of Delaware has found that several of the nation's largest umbilical-cord blood banks willfully violated patents covering the medically valuable tissues, the Wall Street Journal reported on Monday.

The jury stipulated a "reasonable royalty rate" of 6.125% and awarded the plaintiff $7.1 million, according to court records.

On Feb. 22, 2002, PharmaStem Therapeutics Inc., of Wayne, Pa., sued ViaCell Inc., Boston; Cryo-Cell International Inc., Clearwater, Fla.; CorCell Inc., Philadelphia; and CBR Systems Inc., San Bruno, Calif,...
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