Statement re Warranty Claim

RNS Number : 3926T

Proteome Sciences PLC

28 September 2010

 



Proteome Sciences plc

Settlement of warranty claim against

Sanofi-Aventis Deutschland GmbH

28 September 2010, London UK- Proteome Sciences plc filed a court claim for the breach of certain contractual and statutory obligations of Sanofi-Aventis Deutschland GmbH arising from or in connection with the Agreement of Sale and Transfer concerning a Share in Xzillion Proteomics Vewaltungs GmbH and concerning a Limited Partnership Interest in Xzillion Proteomics GmbH & Co. KG of 4 July 2002.

A settlement has been reached between the parties under which a payment of Є11m will be received by Proteome Sciences by the close of business on 29 September 2010. Further details of the settlement have not been disclosed due to the confidentiality clause forming part of the settlement.

- Ends -

For further information please contact:

Proteome Sciences plc

www.proteomics.com                                          Tel:   [phone]

Christopher Pearce, Chief Executive Officer       [e-mail] 

James Malthouse, Finance Director                     [e-mail] 

Dr. Ian Pike, Chief Operating Officer                    [e-mail] 

Nominated Adviser

Singer Capital Markets Limited

Shaun Dobson/Claes Spång

Tel: [phone]

Public Relations

IKON Associates                                                    Redleaf Communications Limited

Adrian Shaw                                                             Anna Dunkin/Lucy Salaman

Tel:         [phone]                                 Tel:        [phone]

Mobile:    [phone]                                 Email:   [e-mail] 

Email:     [e-mail]                                     

Notes to Editors:

About Proteome Sciences

Proteome Sciences is a global leader in applied proteomics and uses high sensitivity proprietary technologies for protein biomarker discovery, validation and assay development. The Company's own research has discovered a large number of novel protein biomarkers in key human diseases and is focused mainly in neurological/neurodegenerative conditions and in cancer. It has discovered and patented blood biomarkers, including Alzheimer's disease, stroke, brain damage and lung cancer for diagnostic and treatment applications. These biomarkers are available for outlicensing. The first blood test for lung cancer using Proteome Sciences' biomarkers was launched in the USA in 2009 and received Medicare reimbursement in 2010. Its PS Biomarker Services provides ISO 9001: 2008 accredited facilities in Frankfurt, Germany, using proprietary isobaric and isotopic Tandem Mass Tags^® (TMT^®) to discover protein biomarkers, and reference materials combined with isotope dilution mass spectrometry. Highly multiplexed assays can be developed rapidly and are suitable for screening hundreds of candidate biomarkers in validation studies. Assays for validated biomarkers can be transferred for immunoassay development. Proteome Sciences, based in Cobham, UK, has facilities in London and Frankfurt and delivers outsourced proteomics services and proprietary biomarkers to pharmaceutical, biotechnology and diagnostics companies. Visit http://www.proteomics.com.

 

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