Madison-based Third Wave Third Technologies and Innogenetics of Belgium
have reached an agreement giving
Third Wave a non-exclusive license sell hepatitis C virus (HCV) genotyping
products in the United States.
Innogenetics sued Third Wave in the Western District Court of Wisconsin
last year, alleging that the Madison company was infringing on one of its
Rod Hise, a spokesman for Third Wave, said the settlement ends the suit
without any penalties against his company.
In addition, the agreement includes an option to extend both the term and
global reach of the license to Innogenetics HCV genotyping patent estate.
The financial terms of the deal were not disclosed.
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.
“This deal will help to accelerate the global growth of our molecular
diagnostics business and further build shareholder value.”
Frank Morich, CEO of Innogenetics, echoed Conroy.
“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 ad Third Wave Technologies now having taken
licenses… we remain determined to further enrich and enforce our HCV
genotyping patent portfolio worldwide.”