Further extensions sought in GTG/Applera dispute
Friday, 25 November, 2005
Melbourne gene-test company Genetic Technologies (ASX: GTG; NASDAQ: GENE) US rival Applera Technologies have sought additional time from the US District Court of Northern California to resolve the long-running licensing dispute between the companies.
GTG and Applera, which has refused to take a licence on GTG's patented 'junk DNA' gene-testing technology, said early this month that they hoped to announce a court-sanctioned resolution to their dispute by November 9, but then asked the court to grant an extension while they continued negotiations.
GTG and Applera have now asked for a further extension, to December 5, to complete and execute a binding settlement, as well as to agree on licence and supply issues.
In another development today, GTG advised the Australian Stock Exchange that Henry Bosch has been elected as independent chairman of the company.
Bosch is a former chairman of the corporate watchdog agency the National Companies and Securities Commission (now the Australian Securities and Investments Commission).
The company's co-founder and current executive chairman, Dr Mervyn Jacobson, will assume the title of CEO - a role he says will allow him to focus on expanding GTG's licensing activities, and other revenue-generating aspects of its operations.
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