Ichor Medical Systems Awarded $13.5 Million in "Pivotal" Intellectual Property Verdict
SAN DIEGOCA - May 14, 2003 - Ichor Medical Systems, Inc. announced today that the company has won a $13.5 million jury verdict on its claims for trade secret misappropriation, breach of an NDA and breach of fiduciary duty. It also won an additional $400,000 in punitive damages. The verdict came after a three-week jury trial before the Hon. Napoleon A. Jones in U.S. District Court in San Diego.
The case focused on Ichor's highly successful drug and gene delivery electroporation technology used to treat all kinds of diseases including cancer. Ichor developed its patented technology in the field of electroporation. The field combines expertise in both cellular membrane structure and the generation of brief electrical fields to create complex wave forms, which temporarily open pores in cell membranes, through which therapeutic compounds or genes travel. This technology provides a broad platform to improve the delivery of genes and drugs for cancer and other diseases.
"This victory is pivotal to Ichor - it was vital to our company's future that we enforce our non-disclosure and intellectual property rights in order to maintain our rightful ownership and exclusive control over our technology," said Robert Bernard, CEO of Ichor Medical Systems. "We are proving the value of our research, and licensing our technology to a number of pharmaceutical companies with varied therapeutic and disease interests. The case was a 'bet the company' type of matter, the magnitude of the award is significant and we could never have accomplished this spectacular result without the strategic guidance and representation of Cooley Godward."
In 1999, Ichor tapped Cooley Godward for litigation expertise on this matter, and selected Tony Stiegler as lead counsel. Mr. Stiegler served as the lead trial lawyer in this case, which spanned nearly five years and culminated in the three-week jury trial.
"What made this case so challenging was our need to educate the jury on a very complex technology and intricate set of facts stretching over a period of eight years," said Stiegler. "Our primary goal was to connect with the jurors and to tell the story in a way that was both understandable and compelling. The past several years have been extraordinary, and we are delighted to have had the opportunity to help Ichor obtain this critical victory."
Cooley Godward LLP is an established provider of strategic litigation and business transaction services, and a recognized leader in the representation of high-growth private and public companies, venture capital firms and nonprofit organizations. Founded in 1920, Cooley Godward is headquartered in Palo Alto, California, and has 500 attorneys nationwide with affiliates throughout Europe and Asia. For additional information: http://www.cooley.com.
Ichor Medical Systems, Inc. is a private company founded to develop clinical products based on the in vivo application of electroporation. Ichor technology utilizes the application of electrical fields to safely enhance the intracellular uptake of therapeutic agents within a targeted region of tissue. This technique is a physical means to temporarily overcome the impermeable nature of the cell membrane thus enabling a dramatic increase in the uptake of therapeutic agents by targeted cells. Once the cell membrane recovers from the electroporation, it resumes normal function. Thereafter, a therapeutic effect is realized from the activity of the agent transferred into the cell. Since it is a physical response to the application of electrical fields, the electroporation effect can be induced in virtually any type of tissue and has been demonstrated to potentiate the biological effect of a variety of therapeutic agents.
Ichor's research focus is the development of its platform electroporation technology for the targeted delivery of therapeutic agents including pharmaceutical compounds and nucleotide constructs. Ichor has developed methods and equipment suitable for laboratory and clinical investigation of electroporation as a means for delivering therapeutic agents. For additional information visit: http://www.ichorms.com