Medical Company Sued Over Patent License Breach

Law360, New York (October 20, 2006, 12:00 AM EDT) -- PreMD Inc., a Toronto-based predictive medicine company, was served with a lawsuit from an inventor and another medical company claiming that PreMD breached a license agreement over intellectual property rights and owes them millions.

Inventor Abulkalam Shamsuddin alleged that PreMD breached a license agreement dating from 1998 over patents he owns, the company said on Friday.

Shamsuddin had granted an exclusive license to PreMD for patents involving part of PreMD’s cancer products, including tests for detecting breast, lung and colorectal cancer.

Shamsuddin transferred his interest in...
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