Helicos BioSciences Files Patent Infringement Lawsuit Against Pacific Biosciences
September 08 2010 - 4:30PM
Business Wire
Helicos BioSciences Corporation (NASDAQ: HLCS) announced today
that it has filed a lawsuit against Pacific Biosciences of
California, Inc. for patent infringement. The lawsuit, filed in the
United States District Court for the District of Delaware, accuses
PacBio of infringing four patents and seeks injunctive relief and
monetary damages.
“Helicos was the first to invent and market single molecule
sequencing technology and has established a comprehensive patent
estate with the earliest priority dates in the field” said Ronald
A. Lowy, President and CEO of Helicos. “Pacific Biosciences is a
newcomer to the single molecule sequencing market and has
introduced technology and products that infringe our patents. We
have full confidence that our patents in this lawsuit, which have
expiration dates that extend well into the future up to 2028, are
valid, enforceable and are infringed by Pacific Biosciences. We
plan to vigorously defend our intellectual property rights and owe
it to our stockholders and our customers to protect the technology
investments we have made throughout the years.”
In the lawsuit, Helicos claims that Pacific Biosciences
incorporated the patented sequencing-by-synthesis technology into
its Single Molecule Real Time (SMRT™) systems and products. The
patents cover sequencing-by-synthesis methods using labeled
nucleotides. The nucleotides are labeled with detectable markers,
such as fluorescent markers, that enable determination of each
nucleotide incorporated into the DNA strand being extended by the
polymerase. The patents describe processes that involve, for
example, identifying each new nucleotide by observing its
detectable label and neutralizing or removing the label before
addition of the next nucleotide. The 3’ hydroxyl groups of the
nucleotides are free, permitting the repeated addition of
nucleotides over the course of a sequencing-by-synthesis
process.
Helicos believes this fundamental, patented
sequencing-by-synthesis technology underlies Pacific Biosciences’
SMRT™ platform, in which labeled nucleotides with free 3’ hydroxyl
groups are detected and incorporated in a continuous
sequencing-by-synthesis process.
The case is Helicos BioSciences Corporation v. Pacific
Biosciences of California, Inc., No. 1:10-cv-00735. The
complaint alleges infringement of U.S. Patent Nos. 7,645,596 (which
expires in 2019), 7,037,687 (which expires in 2020), 7,169,560
(which expires in 2024) and 7,767,400 (which expires in 2028).
Collectively, these patents broadly cover key features of
sequencing-by-synthesis technology. Helicos incorporated
sequencing-by-synthesis processes when it developed the world’s
first single molecule sequencing system, the Helicos® Genetic
Analysis System, which it launched in 2008. The Helicos system is
in use by leading international research institutions and
commercial laboratories for research, pharmaceutical development
and diagnostics.
Additional information can be found in Helicos’ Annual Report on
Form 10-K for the fiscal year ended December 31, 2009, as filed
with the SEC on April 15, 2010, together with its Quarterly Report
on Form 10-Q for the first second quarter 2010, as filed with the
SEC on August 16, 2010. These reports include a discussion
regarding the company's need to raise capital to pursue its new
business of developing molecular diagnostic tests, disclosures
regarding the company's operational results and liquidity position,
and additional disclosures regarding other risks and uncertainties
faced by Helicos.
About Helicos BioSciences:
Helicos BioSciences is focused on innovative genetic analysis
technologies for the development and marketing of molecular
diagnostic tests. Helicos’ proprietary True Single Molecule
Sequencing (tSMS™) technology allows the direct measurement of
natural DNA without the confounding steps of sample manipulation or
nucleic acid amplification. Helicos is committed to commercializing
new options for patients and physicians seeking reliable,
cost-efficient molecular diagnostic results. For more information,
please visit www.helicosbio.com.
Forward Looking Statements:
Certain statements made in this press release that are not based
on historical information are forward-looking statements which are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. This press release
contains express or implied forward-looking statements relating to,
among other things, the results of the patent infringement lawsuit
against Pacific Biosciences and any litigation related thereto, and
any other litigation that we file to defend and/or assert our
patents, other risks common to our industry, including risks common
to intellectual property and patent protection and maintenance, the
prospective value of the unique attributes of single molecule
sequencing in the diagnostics markets and the potential clinical
advantages of the single molecule-sequencing platform, Helicos'
belief that its technology is capable of meeting needs in the
diagnostics markets in the near term, Helicos' beliefs regarding
its ability to introduce successful diagnostic sequencing
applications utilizing Helicos technology, Helicos' beliefs
regarding competition from other companies in the diagnostics
market, and management's plans, objectives and strategies. These
statements are neither promises nor guarantees, but are subject to
a variety of risks and uncertainties, many of which are beyond
Helicos' control, which could cause actual results to differ
materially from those contemplated in these forward-looking
statements. In particular, the risks and uncertainties include,
among other things: our ability to successfully implement a
strategic shift to focus the business on the diagnostics markets
utilizing the HeliScope Sequencer; a third party suing us for
infringement of intellectual property rights; the costs of, and
potential for an adverse outcome from, any intellectual property
litigation; our history of operating losses and ability to achieve
profitability; our ability to sustain our technology and know-how;
competition; changing technology and customer requirements; our
ability to operate in an emerging market; market acceptance of our
technology; the length of our sales and implementation cycles in
the diagnostics markets; failure of our technology and products;
ethical, legal and social concerns surrounding the use of genetic
information; our ability to retain our remaining personnel
following our May 2010 reduction in force and our ability to hire
additional skilled personnel required to pursue our diagnostics
strategy; our ability to manage our growth while operating with
limited resources; our ability to control our operating expenses;
general economic and business conditions; our ability to obtain
capital when desired on favorable terms including our need for
significant additional capital prior to the end of the third
quarter 2010 to fund our operations; our current financial
resources and substantial doubt about our ability to continue as a
going concern; and the volatility of the market price of our common
stock. Existing and prospective investors are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date hereof. While Helicos anticipates that
subsequent developments may cause the company’s views to change,
Helicos undertakes no obligation to update or revise the
information contained in this press release, whether as a result of
new information, future events or circumstances or otherwise,
except as required by law. For additional disclosure regarding
these and other risks faced by Helicos, see the disclosure
contained in Helicos' public filings with the Securities and
Exchange Commission.