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Genus granted injunction against Inguran

03 April 2017 07:41

Genus has been awarded an injunction in its favour in connection with its litigation against Inguran LLC, operating as Sexing Technologies.

Genus said that in granting the permanent injunction in its favour, the US District Court for the Western District of Wisconsin, confirmed that:

(i) ST was prevented from enforcing certain research, marketing and non-compete restrictions under the 2012 Semen Sorting Agreement between ST and ABS Global, Inc.

(ii) other bull studs in the US were permitted to terminate their ST sexed semen processing agreements on 12 months' notice, without damage or penalty.

Genus said: "The injunction will remain in force for five years and ST is required by the court to give prompt written notice of the court's decision to the other bull studs.

"The 2012 Agreement will remain in place until its expiry on 31 August 2017 and Genus will consider its options for appeal in relation to other post-verdict motion decisions from the Court, including the Court's decision to support the validity of certain ST patents."

It added: "As a result of this positive outcome, contractual restrictions blocking the way for commercial launch of Genus Sexed Semen ('GSS') have been removed by the Court, enabling the commercialisation of GSS and providing ABS customers and third party bull studs with an alternative service provider and increased competition in the market for the processing of sexed bovine semen. GSS is a novel technology for sexing bovine semen that is ready for the market.

"GSS focuses on fertility outcomes and does not subject the sperm cells to the high pressures and sheer forces of the technology currently in use in the industry."

Story provided by StockMarketWire.com

Related Company: GNS

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