Cyprotex PLC (LSE: CRX) today announces that in its litigation with the University of Sheffield over disputed software (as detailed in its flotation prospectus), the Court has declared that the copyright in the software belongs to the University of Sheffield, and Cyprotex is entitled to a wide-ranging licence to use the program for its own research purposes.
Dr David Leahy, Chief Scientific Officer of Cyprotex, said: "We stated at the time of our AIM listing that the outcome of this court action would not have an adverse effect on the performance of the business and I am pleased to confirm that this is still the case.
"The software in question was a prototype developed by a Cyprotex employee during 2000 to support the work of academics at the University. When the University decided to set up a spin-out company based on the prototype software we had contributed, a court case became necessary to establish which party owned copyright in the software, and clarify what rights for further exploitation existed."
"In the eighteen months that the case has taken to come to judgement the software has not been used commercially and the Company has long ago ensured that no part of its business activities or plans is dependent on ownership of the copyright. However, the Company intends to appeal against today's decision and believes that there is a real prospect of success of reversing it regarding ownership of copyright.
The Company will be making a provision in its accounts for the period ending 31st December 2002 to cover any costs that are eventually awarded.
For further information:
Dr David Leahy, Chief Scientific Officer
Tel: +44 (0) 1625 505 100
Henry Harrison-Topham/ Heather Salmond
Bankside Consultants Limited
Tel: +44 (0) 20 7444 4140