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Genetic Technologies (ASX: GTG, NASDAQ: GENE) has negotiated a successful settlement with a group of companies associated with Sonic Healthcare (ASX: SHL)
following the filing of a patent infringement law suit in the U.S. in
relation to Genetic Technologies non-coding DNA technology.
The patent infringement suit was filed by Genetic Technologies in the U.S. District Court for the Western District of Texas, Austin division, in January 2011.
This latest settlement concludes Genetic Technologies’ second assertion suit.
A third assertion suit, filed by the company in the U.S. District Court for the District of Colorado in May 2011 against 10 counterparties, is also progressing well with three counterparties in that case having already settled.
Genetic Technologies has now licensed its non-coding DNA technology globally to over 60 companies in a wide variety of life sciences industries.
To date, more than $73 million in contracted revenue has been generated from the granting of these licences.
Earlier this month Genetic Technologies entered into a Settlement and License Agreement with Colorado-based Eurofins STA Laboratories.
The agreement provides Eurofins STA Laboratories non-exclusive access to Genetic Technologies’ non-coding DNA technology for its products and services.
Genetic Technologies is in ongoing discussions with companies relating to the use of its non-coding DNA technology.
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| Patent Infringement |
The patent infringement suit was filed by Genetic Technologies in the U.S. District Court for the Western District of Texas, Austin division, in January 2011.
This latest settlement concludes Genetic Technologies’ second assertion suit.
A third assertion suit, filed by the company in the U.S. District Court for the District of Colorado in May 2011 against 10 counterparties, is also progressing well with three counterparties in that case having already settled.
Genetic Technologies has now licensed its non-coding DNA technology globally to over 60 companies in a wide variety of life sciences industries.
To date, more than $73 million in contracted revenue has been generated from the granting of these licences.
Earlier this month Genetic Technologies entered into a Settlement and License Agreement with Colorado-based Eurofins STA Laboratories.
The agreement provides Eurofins STA Laboratories non-exclusive access to Genetic Technologies’ non-coding DNA technology for its products and services.
Genetic Technologies is in ongoing discussions with companies relating to the use of its non-coding DNA technology.
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