Innogenetics, Third Wave Resolve Patent Suit
News Feb 13, 2006
Third Wave Technologies Inc. and Innogenetics have jointly announced that the companies have reached an agreement by which Third Wave Technologies will receive a non-exclusive license to sell hepatitis C virus (HCV) genotyping products in the United States.
The agreement also includes certain opt-out rights for Third Wave, as well as an option to extend both the term and global reach of the license to Innogenetics’ HCV genotyping patent estate.
The conclusion of the agreement resolves the patent litigation between Innogenetics and Third Wave.
Kevin Conroy, president and chief executive of Third Wave, said, "We are pleased to have resolved the litigation and to have concluded a licensing agreement with Innogenetics for the rights to its HCV genotyping patent estate."
"This deal will help to accelerate the global growth of our molecular diagnostics business and further build shareholder value."
Frank Morich, CEO of Innogenetics, also commented on the deal, "We are particularly happy to have concluded this licensing agreement. The amicable resolution of this issue will help both companies realize their ambitious near- and mid-term goals."
"With leading diagnostics companies such as Bayer HealthCare (Diagnostics Division), Roche Diagnostics, and Third Wave Technologies now having taken licenses to Innogenetics’ HCV genotyping technologies and patent estate, we remain determined to further enrich and enforce our HCV genotyping patent portfolio worldwide."