DNA Patent Suit Settled For $3.35M

Law360, New York (January 11, 2007, 12:00 AM EST) -- Two medical technology companies on Thursday agreed to settle a lawsuit over DNA analysis patents for $3.35 million.

California-based Cepheid agreed to pay the sum in a one-time payment to rival Idaho Technology Inc. The settlement also included a cross-licensing agreement between the parties.

“ITI is pleased to have reached a settlement with Cepheid that allows both companies to continue to offer innovative instrumentation, chemistry, and data analysis solutions for their customers,” said Randy Rasmussen, Idaho Technology’s chief operating officer.

Cepheid’s executive officer, John Bishop, concurred....
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