Prana, PNG Settle Suit Over Patent For Alzheimer Biotech Drug

Law360, New York (August 9, 2004, 12:00 AM EDT) -- Australian biotech company Prana Biotechnology Ltd. and licensing partner Massachusetts General Hospital have settled their patent infringement lawsuit against P.N Gerolymatos S.A. over pharmaceutical compositions and uses of clioquinol, a promising Alzheimer’s drug.

As part of the settlement, Prana and P.N.G. have agreed to recognize the rights of each other to develop clioquinol in their respective territories. Prana will hold the rights to clioquinol in the U.S. and Japan, while P.N.G. will hold the rights for European and other

Territories, the companies said.

Prana said it...
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