HTG Molecular Provides Update on Patent Infringement Claims Against BioSpyder
HTG Molecular Diagnostics (HTGM) provided an update on its patent infringement claims against BioSpyder Technologies. Following BioSpyder's lawsuit claiming it does not infringe HTG’s U.S. Patent No. 8,741,564, HTG plans to vigorously enforce its patent rights. The company previously offered a potential settlement, which BioSpyder declined. HTG emphasizes the strength of its patents and seeks a fair resolution. HTG specializes in NGS-based molecular profiling, aimed at advancing precision medicine by identifying clinically relevant biomarkers.
- HTG intends to vigorously enforce its patent rights, demonstrating confidence in its intellectual property.
- The company has a proprietary technology (HTG EdgeSeq) that automates molecular profiling, positioning it well in precision medicine.
- BioSpyder's lawsuit may prolong legal disputes, which could distract from business operations.
- The outcome of the lawsuit is uncertain, posing a risk to HTG's potential revenue from its patents.
TUCSON, Ariz., Aug. 14, 2020 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (Nasdaq: HTGM) (HTG), a life science company whose mission is to advance precision medicine, today provided an update regarding its patent infringement claims against BioSpyder Technologies, Inc (BioSpyder). On August 13, 2020, BioSpyder filed a lawsuit seeking a declaration that it does not infringe HTG’s U.S. Patent No. 8,741,564 (the ’564 patent). In several previous communications between the companies, HTG had asserted its claims that BioSpyder’s TempO-Seq® gene expression tool infringes the ‘564 patent.
“We believe our patents are strong, and we intend to vigorously enforce them just as any other IP-centric company would do,” said John L. Lubniewski, President and CEO of HTG. “We had previously offered the possibility of arriving at a negotiated settlement that recognizes our patent rights, but BioSpyder was clearly not interested in that approach. We look forward to a fair and speedy resolution of our infringement claims.”
About HTG:
HTG is focused on NGS-based molecular profiling. The company’s proprietary HTG EdgeSeq technology automates complex, highly multiplexed molecular profiling from solid and liquid samples, even when limited in amount. HTG’s customers use its technology to identify biomarkers important for precision medicine, to understand the clinical relevance of these discoveries, and ultimately to identify treatment options. Its mission is to empower precision medicine.
Safe Harbor Statement:
Statements contained in this press release regarding matters that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding HTG’s patent infringement claims against BioSpyder, the strength of HTG’s patents and any potential resolution of the recent court action. Words such as “believes,” “anticipates,” “plans,” “expects,” “intends,” “will,” “goal,” “potential” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements necessarily contain these identifying words. These forward-looking statements are based upon management’s current expectations, are subject to known and unknown risks, and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, including but not limited to, the risk that HTG may not be successful in asserting its infringement claims, and the risk that the recent court action may not be resolved when anticipated, or in favor of HTG. Other factors are described in greater detail in our filings with the Securities and Exchange Commission, including without limitation our Quarterly Report on Form 10-Q for the quarter ended June 30, 2020. All forward-looking statements contained in this press release speak only as of the date on which they were made, and we undertake no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made.
Contact:
Ashley R. Robinson
LifeSci Advisors, LLC
Phone: (617) 430-7577
Email: arr@lifesciadvisors.com
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