Genus PLC CORRECTION: Outcome of IntelliGen Litigation (9483L)
September 11 2019 - 3:03AM
UK Regulatory
TIDMGNS
RNS Number : 9483L
Genus PLC
11 September 2019
This announcement replaces RNS number 9356L issued this morning,
removing the word "million" from the number of straws sold by ABS
up to 30 June 2019. All other information in the announcement
remains unchanged.
For Immediate Release 11 September 2019
Genus plc
('Genus')
Outcome of latest IntelliGen Litigation
Genus plc (LSE: GNS), a global pioneer in animal genetics,
announces that on 10 September 2019 the jury in the US District
Court for the Western District of Wisconsin considered damages in
the IntelliGen litigation. On 9 September 2019, as previously
announced, the jury held that Genus' sexed semen technology, sold
by ABS Global, Inc., under the IntelliGen brand, infringed three
patents asserted by Inguran, LLC and Cytonome/ST, LLC (collectively
"ST").
The jury held that ABS should pay a royalty of $2.60 per straw
sold for the infringement of US patents 7,311,476 ("'476") and
7,611,309 ("'309") for 3,295,355 straws sold by ABS up to 30 June
2019. This royalty will be retrospective only, as ABS has already
reengineered the IntelliGen technology by incorporating its
non-infringing microfluidic chip known as "SSC(B)". ST confirmed in
Court that the SSC(B) does not infringe the '476 or '309 patents.
The infringement of the US Patent No. 8,206,987 confirms ABS'
existing obligation to pay a royalty of $1.25 for each straw of
sexed semen produced in the US.
ABS is considering its options for appeal.
For further information, please contact:
Genus Tel: +44 (0)1256 345970
Stephen Wilson, Group Finance Director
Dan Hartley, Group General Counsel and Company Secretary
Buchanan Tel: +44 (0)207 466 5000
Charles Ryland / Chris lane / Vicky Hayns
About Genus
Genus is a world-leading animal genetics company. Genus creates
advances to animal breeding and genetic improvement by applying
biotechnology and sells added value products for livestock farming
and food producers. Its technology is applicable across livestock
species and is currently commercialised by Genus in the dairy, beef
and pork food production sectors.
Genus's worldwide sales are made in over seventy-five countries
under the trademarks 'ABS' (dairy and beef cattle) and 'PIC' (pigs)
and comprise semen, embryos and breeding animals with superior
genetics to those animals currently in farms. Genus's customers'
animals produce offspring with greater production efficiency, and
quality, and use these to supply the global dairy and meat supply
chains.
The Group's competitive edge has been created from the ownership
and control of proprietary lines of breeding animals, the
biotechnology used to improve them and its global supply chain,
technical service and sales and distribution network.
With headquarters in Basingstoke, United Kingdom, Genus
companies operate in over twenty-five countries on six continents,
with research laboratories located in Madison, Wisconsin, USA.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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