Adamis Pharmaceuticals Prevails in License Dispute Litigation

        Adamis Pharmaceuticals Prevails in License Dispute Litigation

PR Newswire

SAN DIEGO, Feb. 28, 2013

SAN DIEGO, Feb. 28, 2013 /PRNewswire/ --Adamis Pharmaceuticals Corporation
(OTCQB: ADMP), a biopharmaceutical company engaged in the development and
commercialization of specialty pharmaceutical and biotechnology products in
the therapeutic areas of respiratory disease, allergy, oncology and
immunology, announced that a court entered an order of dismissal with
prejudice of a complaint filed against Adamis regarding a dispute over one of
its license agreements, resolving the case in Adamis' favor.

As has been previously reported in the company's filings with the Securities
and Exchange Commission, Cosmo Bioscience, Inc. et. al. v. Adamis
Pharmaceuticals Corp. and Maurizio Zanetti was filed in San Diego Superior
Court in May 2010. Plaintiffs were affiliated Cosmo Bioscience entities that
claimed to have sublicensed certain patented technology from Eurogen BV, an
entity wholly owned and controlled by Maurizio Zanetti. Plaintiffs claimed
that Dr. Zanetti wrongfully terminated their license, and further that Dr.
Zanetti, through Nevagen, LLC, another entity that he controlled, improperly
licensed the same technology to Adamis in violation of the sublicense
agreement with plaintiffs. Plaintiffs asserted a single claim for declaratory
relief seeking a declaration that the Cosmo sublicense was in full force and
effect, and that the Adamis license was invalid. The lawsuit was stayed in
2010, and the court ordered that the matter be arbitrated in the Italian
courts pursuant to the arbitration provisions of the sublicense agreement.

In December 2012, Adamis and Dr. Zanetti filed motions to dismiss the lawsuit
because of the plaintiffs' failure to proceed with arbitration. The court
heard the motions in February 2013 and entered an order dismissing the case
because of the plaintiffs' failure to comply with the court's order compelling
arbitration. In addition, the court excised its discretion to dismiss with
prejudice, thereby precluding the plaintiffs from bringing the suit again.

Following the ruling, Dr. Zanetti stated, "The Court's decision to dismiss
this case 'with prejudice' was expected. I always believed that the lawsuit
had no merit on either the facts or the law. This is the fifth case brought
against me by Cosmo entities or one of its officers. Every case has been
resolved favorably to me either by summary judgment or dismissal."

About Adamis Pharmaceuticals Corporation

Adamis Pharmaceuticals Corporation is a biopharmaceutical company engaged in
the development and commercialization of specialty pharmaceutical and
biotechnology products in the therapeutic areas of respiratory disease,
allergy, oncology and immunology. Products Adamis currently in its specialty
pharmaceutical pipeline include the Epinephrine Injection PFS syringe product
for use in the emergency treatment of anaphylaxis, APC-1000 for the treatment
of asthma and chronic obstructive pulmonary disease, and APC-3000, a HFA
inhaled nasal steroid product for the treatment of allergic rhinitis. Product
candidates currently in development within its biotechnology division include
TeloB-VAX, a novel cell-based therapeutic cancer vaccine, and three drug
product candidates, APC-100, APC-200, and APC-300, for the treatment of
prostate cancer and inflammation.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning
of the U.S. Private Securities Litigation Reform Act of 1995. These
statements relate to future events or our future results of operations or
future financial performance, including, but not limited to the following
statements: the ability to fund future product development; future revenues
expected from any of the company's product candidates, assuming that they are
developed and approved for marketing by the FDA and other regulatory
authorities; and the intellectual property protection that may be afforded by
any patents or patent applications relating to the company's technology.
Certain of these risks, uncertainties, and other factors are described in
greater detail in Adamis' filings from time to time with the SEC, which Adamis
strongly urges you to read and consider, all of which are available free of
charge on the SEC's web site at http://www.sec.gov. Except as required by
law, Adamis expressly disclaims any obligation to update any forward-looking
statements.

For Additional Information

David Marguglio
Senior Vice President, Corporate Development
Adamis Pharmaceuticals Corp.
Tel: 858- 412-7950
Email: dmarguglio@adamispharma.com

SOURCE Adamis Pharmaceuticals Corporation

Website: http://adamispharmaceuticals.com
 
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