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Tel Aviv, Israel, New York, USA, December, 2011: TheraVitae Inc.’s (“TVI’s”) patent infringement legal action against RegenoCELL Therapeutics, Inc. (“RCLL”) advanced to its third hearing in December, 2011. In 2010, Kwalata Trading Limited (“Kwalata”), a wholly owned subsidiary of TVI commenced an injunction application for infringement of IP rights in the District Court of Israel against RegenoCELL. As a result of RCLL’s failure to comply with the court agreement and their continuing infringement of IP rights and of Kwalata’s Israeli Patent, Kwalata commenced a second injunction application in Israel against RegenoCELL on November 6, 2011.
At a court appearance on November 9, 2011, RCLL’s President, James Mongiardo, appeared on behalf of RegenoCELL. At the conclusion of the November 9 hearing the Judge suggested a settlement option: the establishment of a Court trust wherein RegenoCELL would deposit 30% of each patient’s fees.
A third court hearing was held December 5, 2011 where RegenoCELL was again asked to agree to the Court trust or face the possibility of an injunction. RCLL refused the Court`s request to make a decision. Therefore, the Judge ordered filing of written summations. Kwalata’s summation is due December 12, 2011 and RegenoCELL’s response is due by December 19, 2011, after which the Judge will issue a final order.
TheraVitae Inc., on behalf of Kwalata , its wholly owned subsidiary, issues this press release regarding its intellectual property and litigation against RegenoCELL Therapeutics, Inc. (“RCLL”) and its wholly owned subsidiary RegenoCELL Laboratories, Ltd. (“RegenoCELL”), TheraVitae Ltd (“TV Israel”), a wholly owned subsidiary of In Motion Investments Limited (“IMI”), and the employees of RegenoCELL, for patent infringement and breach of contract.
For further information contact:
Bill Baker, Director