California biotechnology firm Stratagene Corp. has posted a $21 million bond in federal court in Madison to cover $15.9 million in damages awarded in December to Third Wave Technologies Inc., Madison. The move sets aside the cash for the damages award and related attorneys' fees until Stratagene's planned appeal of the award is resolved, the firms said in separate statements Friday. In its statement, Third Wave said it expected the appeals process to take 18 months. Last month, Judge Barbara Crabb, of the U.S. District Court for the Western District of Wisconsin, awarded Third Wave $15.9 million in damages in the company's successful patent infringement lawsuit, tripling the damages awarded by a federal jury in September. She also ruled that Stratagene must pay Third Wave's attorney fees, an amount to be determined by the court.

Posted by GEN-ERIC at 12:12:10 am into the following categories: In The News

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