Third Wave licenses Innogenetics tech to settle lawsuit
Laptop Battery By WTN News • 02/09/06 Madison, Wis. Third Wave Technologies has settled with a Belgian company that sued last September over genotyping patents. Third Wave will license hepatitis C virus genotyping technology from Innogenetics, for undisclosed financial terms.
The two companies' relationship goes back further. In Aril 2004 Third Wave forged a deal under which Innogenetics was an exclusive distributor of its proprietary Invader line of products in Europe. It was Third Wave's first foray into the European market.
In a press release about the settlement, Third Wave CEO Kevin Conroy said it "will help to accelerate the global growth of our molecular diagnostics business and further build shareholder value." Conroy was the firm's general counsel when the suit was filed.
"With leading diagnostics companies such as Bayer HealthCare (Diagnostics Division), Roche Diagnostics, and Third Wave Technologies now having taken licenses to Innogenetics' HCV genotyping technologies and patent estate, we remain determined to further enrich and enforce our HCV genotyping patent portfolio worldwide," Innogenetics CEO Frank Morich said in the release.
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