Advanced Magnetics to defend Cytogen suit

MR contrast developer Advanced Magnetics said the lawsuit filed against it by partner Cytogen is without merit, and that it plans to conduct a vigorous defense.

Cytogen filed suit January 25 against the Cambridge, MA-based firm in Massachusetts Superior Court, claiming breach of contact, breach of implied covenant of good faith and fair dealing, fraudulent misrepresentation, and unjust enrichment related to a licensing and marketing deal signed between the firms in August 2000.

Advanced Magnetics said it does not believe the lawsuit will materially distract the company from bringing to market its ferumoxytol product as an intravenous iron replacement therapeutic and its Combidex product as an MRI contrast agent.

By AuntMinnie.com staff writers
January 30, 2006

Related Reading

Cytogen sues Advanced Magnetics, January 26, 2006

Higher 2005 revenues for Cytogen, January 9, 2006

Cytogen revises Q3 net loss, November 15, 2005

Expenses contribute to Cytogen's Q3 loss, November 4, 2005

FDA requests Combidex information, March 24, 2005

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