Innogenetics, Abbott Strike $9.5M Deal On HCV Patent

Law360, New York (April 14, 2008, 12:00 AM EDT) -- Innogenetics NV has struck a $9.5 million settlement and licensing agreement with Abbott Laboratories that resolves a long-standing patent dispute between the two companies over hepatitis C virus testing, the Belgian biotech firm announced Monday.

Gent, Belgium-based Innogenetics said the agreement would grant Abbott a nonexclusive license to sell hepatitis C virus genotyping products based on real-time technologies. In exchange, Innogenetics will receive royalties for each hepatitis C test that Abbott sells worldwide during the patent term.

Abbott will also receive access to key Innogenetics patents...
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