SRU Biosystems OK'd to conduct business

Aug 2 2006

SRU Biosystems, Inc. announced today that in connection with the patent litigation brought by Corning Incorporated and Artificial Sensing Instruments ASI AG, the United States District Court for the District of Delaware has resolved in SRU's favor a months-long dispute over the content and scope of a permanent injunction order sought by Corning.

On July 28, 2006, the Court rejected the overbroad injunction proposed by Corning and instead entered SRU's proposal, with provisions limited to the term of the patent-in-suit. That patent expired during the course of the dispute.

"This Order will not adversely affect SRU's ability to conduct business in any way, and it leaves SRU able to enforce its own intellectual property rights in the future," said Owen Dempsey, SRU's president and chief executive officer. "We can now put this issue behind us and concentrate on developing and commercializing our BIND Biosensor technology."

SRU Biosystems, Inc., is a life science company developing novel technologies for rapidly analyzing the interactions of large genomic, protein, peptide, antibody or small molecule compound libraries against a wide range of biochemical targets. The BIND Biosensor technology represents a fundamental advance in the ability to monitor label-free biochemical interactions with high sensitivity and high throughput. SRU is incorporating its technology into microtiter plates, microarray slides and other industry standard formats to create sensitive and high throughput tools that can be used to answer important biological questions for biomedical research, pharmaceutical drug discovery and diagnostics.

http://www.srubiosystems.com