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Cord Blood Stem Cell Banking Victory

Judge Rules in Favor of CorCell in Patent Litigation; Cord Blood Stem Cell Banking Victory

PHILADELPHIA, Dec 17, 2004 /PRNewswire via COMTEX/ -- A new judgment by U.S. District Court Judge Gregory M. Sleet dealt the second and final blow to PharmaStem in its Stem Cell Patent Case against CorCell, Inc. and three other defendants. The Dec. 14 ruling of the Wilmington, DE court stated that, "There was no legally sufficient evidentiary basis for a reasonable jury to find that all, or any specific number, of the defendants cord blood units infringe the '681 patent." This judgment follows a Sept. 14, 2004 ruling by Judge Sleet stating that the defendants did not infringe on the '553 patent, the first of two PharmaStem patents in question. The earlier judgment overturned a $7 million award to PharmaStem.

"This victory is not just for CorCell and the other defendants, but for the entire umbilical cord blood industry. Public cord blood banks as well as private banks benefit from this ruling," said Marcia Laleman, President and CEO of CorCell, Inc. "Most important, this is a ruling in favor of all the parents who want to store their baby's umbilical cord blood for the treatment of a growing number of diseases."

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