Last checked at 11 Sep 2019 08:02
This announcement replaces RNS number 9356L issued this morning, removing the word "million" from the number of straws sold by ABS up to 30 June 2019. All other information in the announcement remains unchanged.
For Immediate Release 11 September 2019
Genus plc
('Genus')
Outcome of latest IntelliGen Litigation
Genus plc (LSE: GNS), a global pioneer in animal genetics, announces that on 10 September 2019 the jury in the US District Court for the Western District of Wisconsin considered damages in the IntelliGen litigation. On 9 September 2019, as previously announced, the jury held that Genus' sexed semen technology, sold by ABS Global, Inc., under the IntelliGen brand, infringed three patents asserted by Inguran, LLC and Cytonome/ST, LLC (collectively "ST").
The jury held that ABS should pay a royalty of $2.60 per straw sold for the infringement of US patents 7,311,476 ("'476") and 7,611,309 ("'309") for 3,295,355 straws sold by ABS up to 30 June 2019. This royalty will be retrospective only, as ABS has already reengineered the IntelliGen technology by incorporating its non-infringing microfluidic chip known as "SSC(B)". ST confirmed in Court that the SSC(B) does not infringe the '476 or '309 patents. The infringement of the US Patent No. 8,206,987 confirms ABS' existing obligation to pay a royalty of $1.25 for each straw of sexed semen produced in the US.
ABS is considering its options for appeal.
For further information, please contact:
Genus Tel: +44 (0)1256 345970
Stephen Wilson, Group Finance Director
Dan Hartley, Group General Counsel and Company Secretary
Buchanan Tel: +44 (0)207 466 5000
Charles Ryland / Chris lane / Vicky Hayns
About Genus
Genus is a world-leading animal genetics company. Genus creates advances to animal breeding and genetic improvement by applying biotechnology and sells added value products for livestock farming and food producers. Its technology is applicable across livestock species and is currently commercialised by Genus in the dairy, beef and pork food production sectors.
Genus's worldwide sales are made in over seventy-five countries under the trademarks 'ABS' (dairy and beef cattle) and 'PIC' (pigs) and comprise semen, embryos and breeding animals with superior genetics to those animals currently in farms. Genus's customers' animals produce offspring with greater production efficiency, and quality, and use these to supply the global dairy and meat supply chains.
The Group's competitive edge has been created from the ownership and control of proprietary lines of breeding animals, the biotechnology used to improve them and its global supply chain, technical service and sales and distribution network.
With headquarters in Basingstoke, United Kingdom, Genus companies operate in over twenty-five countries on six continents, with research laboratories located in Madison, Wisconsin, USA.