Bioengineering
Repligen Announces Settlement with ImClone In Erbitux Lawsuit
Published in Lab Law Weekly, September 28th, 2007
Repligen Corporation (NASDAQ:RGEN) announced it has reached a settlement with ImClone Systems, Incorporated (NASDAQ:IMCL) in the lawsuit against ImClone for infringement of U.S. Patent No. 4,663,281 based on ImClone's manufacture and sale of Erbitux(R). The settlement provides for ImClone to make a payment of $65 million to co-plaintiffs Repligen and The Massachusetts Institute of Technology (MIT) and will result in net proceeds to Repligen of approximately $40 million after payment of obligations to MIT and legal expenses. The settlement agreement serves as the basis for Repligen and MIT to dismiss the lawsuit against ImClone and Repligen has granted ImClone a non-exclusive sublicense to...
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Source: Lab Law Weekly (2007-09-28)
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