PreMD Announces Ontario Court Reserves Decision |
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By: PreMD Inc. Posted: 2006-12-05 21:46:46 |
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Further to its press release of November 21, 2006, predictive medicine company PreMD Inc. (TSX: PMD; Amex: PME) ("PreMD") today announced that a judge of the Ontario Superior Court in Toronto, Ontario has reserved her decision on a motion by PreMD for an injunction preventing, until the trial of the action with Abulkalam K.M. Shamsuddin ("Shamsuddin"), Med-11 AG and Stuart Brazier, what PreMD states is the unlawful termination of its 1998 license agreement with Shamsuddin. The license agreement granted an exclusive license by Shamsuddin to PreMD relating to certain intellectual property involving part of PreMD's cancer products, which include ColorectAlert(TM), LungAlert(TM) and a breast cancer test. The defendants advised the Judge that they would not terminate the license agreement pending further order of the court.
About PreMD PreMD Inc. is a world leader in predictive medicine, dedicated to developing rapid, non-invasive tests for the early detection of life-threatening diseases. PreMD's cardiovascular products are branded as PREVU(x) Skin Sterol Test. The company's cancer tests include ColorectAlert(TM), LungAlert(TM) and a breast cancer test. PreMD's head office is located in Toronto, and its research and product development facility is at McMaster University in Hamilton, Ontario. This press release contains forward-looking statements. These statements involve known and unknown risks and uncertainties, which could cause the Company's actual results to differ materially from those in the forward-looking statements. Such risks and uncertainties include, among others, the successful development or marketing of the Company's products, the competitiveness of the Company's products if successfully commercialized, the lack of operating profit and availability of funds and resources to pursue R&D projects, the successful and timely completion of clinical studies, product liability, reliance on third-party manufacturers, the ability of the Company to take advantage of business opportunities, uncertainties related to the regulatory process, and general changes in economic conditions. In addition, while the Company routinely obtains patents for its products and technology, the protection offered by the Company's patents and patent applications may be challenged, invalidated or circumvented by our competitors and there can be no guarantee of our ability to obtain or maintain patent protection for our products or product candidates. Investors should consult the Company's quarterly and annual filings with the Canadian and U.S. securities commissions for additional information on risks and uncertainties relating to the forward-looking statements. Investors are cautioned not to rely on these forward-looking statements. PreMD is providing this information as of the date of this press release and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise. |
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