Third Wave Technologies Inc. will receive $10.75 million from rival Stratagene Corp. under an out-of-court settlement of patent litigation, the firms said Tuesday. The settlement resolves Third Wave's case against Stratagene, a La Jolla, Calif., biotechnology company. Both firms provide diagnostic testing products. Last January, Stratagene posted a $21 million appeal bond in federal court in Madison to cover $15.9 million in damages awarded in the case in December 2005 by U.S. District Court for the Western District of Wisconsin. Stratagene appealed the case in federal court.

Posted by GEN-ERIC at 02:33:38 am into the following categories: In The News

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