PLYMOUTH, Mich., Aug. 8, 2016 /PRNewswire/ -- On July 29 the Delaware Chancery Court ruled on the issue of the ownership by iBio, Inc. of intellectual property related to plant-based manufacturing technology developed by Fraunhofer USA Center for Molecular Biotechnology. The Court ruling determined iBio's ownership of that technology developed through December 31, 2014.
The Court ruling also confirms that Fraunhofer USA possesses a royalty-free license to conduct research using that technology in any field, including human vaccines, human antibodies, and human therapeutics, among other areas. Fraunhofer USA also possesses an exclusive worldwide license to commercialize that technology for applications outside of the defined iBio field.
The Court confirms Fraunhofer USA's sole ownership of the technology and any improvements developed by Fraunhofer CMB after December 31, 2014, in any field. While several key issues in the litigation remain unresolved following that ruling, Fraunhofer USA expects to resolve those issues, either through a mutual settlement agreement or completion of the litigation.
Dr. Patrick Bressler
Executive Vice President, Fraunhofer USA
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SOURCE Fraunhofer USA, Inc.