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Third Wave and Stratagene reach out-of-court settlement in patent litigation

Published in Medical Device Law Weekly, March 4th, 2007

Third Wave Technologies Inc. (TWTI) and Stratagene Corporation (STGN) announced that they have reached an out-of-court settlement regarding the matter litigated in U.S. District Court in Wisconsin in September 2005 and appealed to the Federal Circuit in Washington, D.C.

Stratagene has agreed to pay Third Wave $10.75 million in cash as full satisfaction for the judgment.

The companies also have agreed to stay any further litigation for 9 months. The companies will either seek dismissal without prejudice or an extension of the trial date for Stratagene's lawsuit against Third Wave in U.S. District Court in Delaware.

Stratagene and...

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