Neuralstem Responds to New StemCells, Inc. Lawsuit
Posted : Tue, 13 May 2008 17:49:40 GMT
ROCKVILLE, Md., May 12 /PRNewswire-
Neuralstem, Inc. (Amex: CUR) responded today to the two new patent
infringement suits filed against it Friday by StemCells, Inc., saying
that it believes them, and the earlier claims by StemCells, Inc.
against the company, to be baseless.
(Logo: http://www.newscom.
"As we alleged in the counterclaim to their lawsuit, which we filed
in October, 2006, StemCells, Inc. has engaged in a pattern of
harassment and anti-competitive behavior," said Neuralstem CEO and
President, Richard Garr. "This is what we have come to expect from
StemCells, Inc. and we believe these new suits are entirely
consistent with its past strategy."
"The other interesting point of today's press release is that
StemCells, Inc., is now backing off of its promise, made publicly in
a press release not long ago, to expeditiously re-open its original
infringement suit against us," Garr continued. "In fact, Neuralstem
moved to re-open that suit, so that it could move for summary
judgment based upon the Patent Office's recent actions. To us, it
sounds like StemCells, Inc. is now trying to make an excuse for
arguing against re-opening that case. We are not surprised. As we
said earlier, we believe that actions of the Patent Office have
destroyed the basis for those infringement assertions against us."
About Neuralstem
Neuralstem's patented technology enables, for the first time, the
ability to produce neural stem cells of the human brain and spinal
cord in commercial quantities, and the ability to control the
differentiation of these cells into mature, physiologically relevant
human neurons and glia.
Major Central Nervous System diseases targeted by the Company with
research programs currently underway include: Ischemic Paraplegia,
Traumatic Spinal Cord Injury and ALS. The company's cells have
extended the life of rats with ALS (Lou Gehrig's disease) as reported
the journal TRANSPLANTATION, in collaboration with Johns Hopkins
University researchers, and also reversed paralysis in rats with
Ischemic Spastic Paraplegia, as reported in NEUROSCIENCE on June 29,
2007, in collaboration with researchers at University of California
San Diego.
The company has also developed immortalized human neural stem cells
for in-vitro use in drug development for the academic and
pharmaceutical markets. For further information, please visit
http://www.neuralst
Cautionary Statement Regarding Forward Looking Information
This news release may contain forward-looking statements made
pursuant to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that such
forward-looking statements in this press release regarding potential
applications of Neuralstem's technologies constitute forward-looking
statements that involve risks and uncertainties, including, without
limitation, risks inherent in the development and commercialization
of potential products, uncertainty of clinical trial results or
regulatory approvals or clearances, need for future capital,
dependence upon collaborators and maintenance of our intellectual
property rights. Actual results may differ materially from the
results anticipated in these forward- looking statements. Additional
information on potential factors that could affect our results and
other risks and uncertainties are detailed from time to time in
Neuralstem's periodic reports, including the quarterly report on Form
10-KSB for the year ended December 31, 2007.
SOURCE Neuralstem, Inc.
http://www.earthtim
stemcells-inc-
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StemCells subscribers may also be interested in these sites:
Children's Neurobiological Solutions
http://www.CNSfoundation.org/
Cord Blood Registry
http://www.CordBlood.com/at.cgi?a=150123
The CNS Healing Group
http://groups.yahoo.com/group/CNS_Healing
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