Boston, MA 10/07/2014 (wallstreetpr) – Biotech firm Pluristem Therapeutics Inc. (NASDAQ:PSTI) which focuses on developing treatments based on cell therapy announced on 7th October that it has won a major patent battle. The drug maker has reported that it’s European Patent No. EP2200622 which has been filed under the header of “ADHERENT CELLS FROM ADIPOSE OR PLACENTA TISSUES AND USE THEREOF IN THERAPY” has been upheld and reinforced by the European Patent Office. The regulator is said to have affirmed the validity of the patent as per the press release issued by the biotech firm.
Over Comes Objection From Competition
The patent in question was reaffirmed post the review process initiated by Opposition Division of the European Patent Office. The Opposition Division ran the patent application through its Opposition Proceedings after it received a challenge from a cell therapy firm. The European Patent Office had arrived at a conclusion, post deliberation that Pluristem Therapeutics Inc. (NASDAQ:PSTI) held patent covers ischemia treatment.
CEO Speak
Pluristem Therapeutics Inc. (NASDAQ:PSTI) Chairman and CEO Zami Aberman has been quoted to have said that “We believe this case, which was brought to the Opposition Division of the European Patent Office from a cell therapy company, afforded Pluristem a clear opportunity.” He also asserted that his firm is fully committed to protecting and enforcing its patent rights. The biotech firm has over the years developed a big library of patents which now add up to nearly 30 approved and nearly 120 pending approval patents.
Opposition Division
Opposition Proceedings are generally brought in front of the European Patent Office in such cases where third parties indicate that they have a claim on a patent issued by any of the national patent agencies which are member states of EU. The decision by the Opposition Division in the case of Pluristem Therapeutics Inc. (NASDAQ:PSTI) is now open for appeal before the Technical Boards of Appeal to all the litigants.
