Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  News  >  Companies

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors

Novalent : Addresses the Joseph Raich, PureShield, and ViaClean Technologies Lawsuits

11/20/2020 | 04:04pm EST

In May 2020, Novalent, Ltd. (“Novalent”), a US biotechnology engineering firm that has developed, patented, manufactured, and sold proprietary antimicrobial products throughout the United States and internationally, filed suit against PureShield, Inc. (“PureShield”) and PureShield’s founder Joseph Raich in the North Carolina Business Court. That lawsuit alleges that Raich and PureShield misappropriated Novalent’s confidential information and trade secrets and engaged in other illegal conduct. PureShield’s parent company, ViaClean Technologies, LLC (“ViaClean”), was named in the lawsuit as an alleged co-conspirator in July 2020.

In response to Novalent’s claims, PureShield and ViaClean have regrettably chosen to file baseless lawsuits against a party that has a business relationship with Novalent and against Novalent. In those lawsuits, PureShield and ViaClean assert claims under a non-exclusive supply agreement covering patents owned by a Novalent subsidiary that have long since expired.

Notably, Novalent has never licensed any of Novalent’s patents to PureShield, and nothing in that non-exclusive supply agreement restricts Novalent’s intellectual property rights in any respect.

Novalent has advised PureShield and ViaClean that their lawsuits are frivolous and that, if their claims are not withdrawn, Novalent will seek to recover its legal fees and any damages suffered by Novalent associated with PureShield’s and ViaClean’s unfounded filings.

Novalent looks forward to holding PureShield and ViaClean accountable for making baseless assertions, and to continuing to provide Novalent’s patented and proprietary products to valued customers.

About Novalent

Novalent is a leading U.S. biotechnology engineering firm which has pioneered the development of proprietary, long-lasting technology that protects against germs. Novālent’s proprietary technology continuously inhibits the growth of bacteria for up to 90 days on surfaces. Used by leading US firms including PepsiCo, Sabra, Pilgrims and HanesBrands, Novalent is headquartered in Greensboro, North Carolina, with five offices around the world. Visit www.Novālent.com for more information.

© Business Wire 2020
Latest news "Companies"
02:59aDIAGEO : JP Morgan maintains a Sell rating
02:59aVALMIERAS STIKLA SKIEDRA : Amendments to the Plan of legal protection proceedings of VALMIERAS STIKLA ŠĶIEDRA, AS
02:59aPERNOD RICARD : Gets a Neutral rating from JP Morgan
02:59aRB 50/2020 : Notification of major shareholding
02:59aFERROVIAL S A : iPad user guide for traveling abroad (Or, staying current or dying)
02:58aDaimler proposes ex-BMW and VW executive Pischetsrieder as chairman
02:57aS.Korea shares close at record high on chip, auto boost
02:57aGUALA CLOSURES S P A : launches its Blossom range of sustainable closures
02:57aAIRBUS : Familiarising students with the latest Airbus aircraft technology and maintenance procedures
02:57aNESTLE : JP Morgan keeps its Buy rating
Latest news "Companies"