Celgene's $5.5M Patent Buy Ends Cancer-Therapy IP Row

Law360, New York (April 4, 2013, 1:46 PM EDT) -- Biopharmaceutical company Cyclacel Pharmaceuticals Inc. has agreed to sell four patents to rival Celgene Corp. for $5.5 million, ending federal litigation in Delaware over the validity of the patents and whether they were infringed by Celgene’s cancer treatment Istodax, Cyclacel announced Thursday.

Under the terms of the deal, Cyclacel will sell the patents — U.S. Patent Numbers 6,403,555; 6,548,479; 6,828,302; and 7,041,639 — to Celgene in exchange for a one-time payment, with the companies mutually agreeing to drop their litigation over the patents.

Spiro Rombotis, Cyclacel's...
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