Digene To Pay $3.5M Over 13 Months In License Pact

Law360, New York (August 11, 2006, 12:00 AM EDT) -- Medical company Digene Corp. announced on Thursday that it will make nonrefundable sublicense payments totaling $3.5 million to Abbott Laboratories over the next 13 months for patents relating to human vitro diagnostics.

Under the terms of the agreement, Digene received a nonexclusive sublicense to a U.S. patent, as well as its foreign counterparts, known as the Caskey patents. Additional payments to Abbott Labs will be due as certain products come to market.

The company entered into the agreement with Abbott Labs on June 30, according to...
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