VNUS To Reap $10M In Patent Settlement

Law360, New York (June 3, 2008, 12:00 AM EDT) -- VNUS Medical Technologies Inc. will receive close to $10 million plus royalties from rivals Vascular Solutions Inc. and AngioDynamics Inc. in a settlement of their dispute over patents for a laser treatment of varicose veins.

AngioDynamics will pay $6.8 million and Vascular Solutions $3.1 million to settle VNUS' infringement claims and receive a nonexclusive license for the patents. They will also pay an undisclosed amount in future royalties, according to individual statements from each company.

The patent license, which cannot be sublicensed, requires the companies to...
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