7.15%MS 14.86 53.51%BAC 22.41 7.38%
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PALO ALTO, Calif. - StemCells Inc., a clinical-stage biotechnology company, said Tuesday the Patent and Trademark Office upheld two of its stem cell patents in a dispute with Neuralstem Inc.
In September StemCells started a patent re-examination process with the PTO following the patent office's decision to reject the company's claims to four patents. Those patents are part of a patent infringement lawsuit that StemCells brought against Neuralstem.
"We welcome this action by the Patent and Trademark Office, which preserves intact the basis of our infringement action against Neuralstem," said Martin McGlynn, president and chief executive of StemCells, in a statement.
StemCells said it can now move ahead with its lawsuit against Neuralstem.
Officials for Rockville, Md.-based Neuralstem weren't immediately available for comment.
Shares of StemCells rose 5 cents to $1.45 in early trading.
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