North American Vaccine Inc. said it has settled a lawsuit filedin a Maryland state court by Dr. Ronald Sekura over foreignpatent rights to its acellular vaccine toxoid for the preventionof whooping cough.
Sekura was a founder and former senior vice president ofvaccine production at the company. The suit "was related to atermination of his employment relationship and a claimregarding a foreign patent licensing agreement," said DanielAbdun-Nabi, senior vice president of legal affairs.
Sekura was an inventor of certain compounds licensed to thecompany, Abdun-Nabi said. The Beltsville, Md., company(AMEX:NVX) will not discuss terms of the settlement, but theyinvolve patents related to its pertussis vaccine technology inseveral countries, Abdun-Nabi told BioWorld.
The settlement "will not materially adversely affect thecompany's financial condition or future results of operations,"he said.
North American Vaccine shares closed down 50 cents onMonday at $10.50. The company and its subsidiaries aredeveloping vaccines for diphtheria, pertussis, tetanus andmeningitis, with an emphasis on vaccines to prevent pediatricinfectious diseases. -- Kris Herbst
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