DUSA Pharmaceuticals and PhotoCure ASA Settle Patent Disputes
Wilmington, MA (USA) and Oslo, Norway May 31st , 2006 - DUSA Pharmaceuticals, Inc. (NASDAQ NMS: DUSA) and PhotoCure ASA (OSE: PHO) today announced a licensing agreement under which DUSA grants PhotoCure a worldwide license under its patents relating to ALA esters.
PhotoCure will pay royalties on sales of its Metvix® and Hexvix® ester products as well as new products as long as DUSA holds patents in the US and certain other territories, including a prepaid royalty amount payable on 1 June 2006.
"This is good news for both companies and will strengthen our ability to achieve our commercial goals for Metvix, Hexvix and new products in development in attractive territories", said Kjetil Hestdal, president and CEO, PhotoCure. "This allows the two companies to focus on sales and marketing of their current products while continuing to develop their respective technology platforms," said D. Geoffrey Shulman, Chairman and CEO, DUSA.