The University of Alabama in Huntsville announced Friday a lawsuit settlement has been reached with a former professor that will yield $25 million over the next decade. Milton Harris, a leader in the field of polyethylene glycol (PEG) chemistry, is the former chairman and CEO of Huntsville-based Shearwater Corp., later acquired by Inhale Therapeutic Systems Inc., which changed its name in 2003 to Nektar Therapeutics. Harris, who now serves as chief scientific officer for Nektar Alabama, has agreed in conjunction with the San Carlos, Calif.-based Nektar to pay UAH a lump sum of $15 million, with the company paying the $10 million balance at a rate of $1 million per year. The settlement addresses patent issues surrounding Nektar's PEGylation technology.

Posted by GEN-ERIC at 12:31:34 am into the following categories: In The News

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