WARF seeks to deny Geron new cell lines
The Wisconsin Alumni Research Foundation (WARF) filed suit against Geron (GERN) seeking to prevent the company from asserting rights to embryonic stem cell lines developed in the future by WARF.
According to the lawsuit, filed in the U.S. District Court for the Western District of Wisconsin, GERN's existing agreement with WARF included an option to negotiate exclusive licenses to new cell lines developed at the University of Wisconsin (Madison, Wis.) beyond those GERN has already licensed. However, the suit states that provisions of the option expired July 31 with the two parties unable to agree on terms for an extension. WARF contends in the suit that it "has fully complied with the option and has no contractual obligation to Geron to add new stem cell types to the scope of the License Agreement." The lawsuit also states that on Aug. 1, GERN "notified WARF that it disagreed with WARF's position and asserted that Geron continues to have rights under the option" to new stem cell lines. In a statement, GERN said that "On July 26, 2001, Geron exercised the option with respect to additional cell types." ...