GenSpera, Inc. (OTCQB: GNSZ) -
September 19, 2014
Genspera Wins Summary Judgment in Mhaka Litigation
SAN ANTONIO, September 2014 /PRNewswire via COMTEX/ -- GenSpera, Inc.
(OTCQB:GNSZ), a leader
in developing prodrug therapeutics for the treatment of cancer, today announced
that the United States District Court for the District of Maryland has granted
the company's summary judgment with respect to all pending claims asserted
against it by Annastasiah Mhaka.
"We welcome the court's decision and are pleased with the result," said Craig
Dionne, GenSpera's CEO. "We believe that our defense against these claims has
demonstrated GenSpera's commitment to protecting its technologies and
intellectual property portfolio."
As previously announced in the company's public filings, on March 12, 2012, as a
result of certain allegations made by Ms. Mhaka, GenSpera instituted a
declaratory judgment action against Annastasiah Mhaka in the United States
District Court for the District of Maryland: GenSpera, Inc. v. Mhaka, Civil
Action No. MJG-12-772 (D. Md.) seeking a declaratory judgment
that Ms. Mhaka should not be added as an inventor to either the US 7,468,354
patent or the US 7,767,648 patent (the '354 patent and '648 patents) (the first
of which claims the company's proprietary PSMA-activated lead drug candidate,
mipsagargin, and the latter of which claims methods of use of mipsagargin). On
May 1, 2013, the Court granted GenSpera's motion for summary judgment and issued
a declaratory judgment establishing that Ms. Mhaka should not be added to the
two patents under 35 U.S.C. § 256.
As part of the litigation, Ms. Mhaka made certain counterclaims against GenSpera,
along with Drs. Samuel Denmeade and John Isaacs (two of the company's
co-founders), based on allegations that she had been wrongly omitted from the
'354 patent and '648 patent. On January 2, 2014, Drs. Isaacs and Denmeade moved
for summary judgment, and GenSpera joined in the motion. On May 6, 2014,
GenSpera moved separately for summary judgment, a motion that Drs. Denmeade and
Isaacs joined in part.
On September 12, 2014, the Court granted GenSpera's motion for summary judgment
as well as the motion for summary judgment filed by Drs. Denmeade and Isaacs.
Judgment in favor of GenSpera, Dr. Isaacs, and Dr. Denmeade was entered
concurrently.
About GenSpera
GenSpera's technology platform combines a powerful, plant-derived cytotoxin (thapsigargin)
with a prodrug delivery system that provides for the targeted release of drug
candidates within a tumor. Unlike typical chemotherapeutic agents, thapsigargin
results in cell death irrespective of the rate of cell division, which may
provide an effective approach to kill both fast- and slow-growing cancers.
GenSpera's lead drug candidate, mipsagargin, is activated by the enzyme PSMA,
which is found at high levels in the vasculature of liver and glioblastoma
cancers and in the vasculature of almost all other solid tumors. Mipsagargin is
therefore expected to have potential efficacy in a wide variety of tumor types.
Mipsagargin Phase II clinical trials are underway in both hepatocellular
carcinoma (liver cancer) and glioblastoma patients (brain cancer).
For more information, please visit the company's website: www.genspera.com or
follow us on Twitter @GenSperaNews.
Company presentations are available at: http://www.genspera.com/
Watch the Corporate Video:
http://youtu.be/jULjEul-mBk
Cautionary Statement Regarding Forward Looking Information
This news release may contain forward-looking statements. Investors are
cautioned that statements in this press release regarding potential applications
of GenSpera's technologies constitute forward-looking statements that involve
risks and uncertainties, including, without limitation, risks inherent in the
development and commercialization of potential products, uncertainty of clinical
trial results or regulatory approvals or clearances, need for future capital,
dependence upon collaborators and maintenance of our intellectual property
rights. Actual results may differ materially from the results anticipated in
these forward-looking statements. Additional information on potential factors
that could affect our results and other risks and uncertainties will be detailed
from time to time in GenSpera's periodic reports filed with the Securities and
Exchange Commission.
CONTACT:
Company:
Craig Dionne, PhD, CEO
GenSpera, Inc. (210) 479-8112
Investor Relations:
Steve Gersten
Capital Markets Group
Steve@CapMarketsGroup.com
+1-813-926-8920
Media:
Dawn Van Zant
(800) 665 0411
SOURCE GenSpera, Inc
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