IntraLase Drops Appeal, Pays Escalon $9.6M

Law360, New York (February 28, 2007, 12:00 AM EST) -- Medical device maker IntraLase Corp. has agreed to pay $9.6 million to rival Escalon Medical Corp. to settle the companies’ long-running licensing dispute over laser technology used for eye surgery.

The settlement ends the licensing deal and places control of the patents in IntraLase’s hands, ending two contract lawsuits filed by IntraLase in the Central District of California and another filed by Escalon in the Delaware Court of Chancery.

The dispute erupted in June 2004, when Escalon accused IntraLase of failing to pay up. As a...
To view the full article, register now.