Glaukos, Ivantis settle patent lawsuit
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Glaukos and Ivantis have entered into a settlement agreement to terminate a patent infringement lawsuit concerning the Hydrus microstent, according to company press releases.
Ivantis will pay Glaukos $60 million in two installments, $30 million by Dec. 31, 2021, and $30 million by Dec. 31, 2022, the Glaukos release said.
Additionally, Ivantis will pay Glaukos “a 10% ongoing royalty through April 26, 2025, based on Ivantis’ Hydrus microstent U.S. sales and any international sales supplied out of the U.S.,” according to the Glaukos release.
“Since our founding in 1998, Glaukos has invested considerable time and resources to develop novel technologies that have pioneered an entirely new treatment category for glaucoma surgeons and their patients,” Thomas Burns, Glaukos president and CEO, said in the Glaukos release. “We remain confident in the strength of our robust intellectual property portfolio and believe this settlement allows us to focus our full attention and resources on executing our long-term growth strategy by bringing transformative new technologies to the market for the benefit of patients worldwide.”
The companies also agreed “to a mutual limited, non-exclusive cross-license and covenant not to sue each other’s existing or closely related products on their existing or related future patents,” according to the Ivantis release.
“Although we have always believed our pioneering technology does not infringe any valid claim of any of Glaukos’ patents, we are pleased to put this distraction behind us,” Dave Van Meter, Ivantis president and CEO, said in the Ivantis release. “Given the upward trajectory of our business and the rapidly increasing adoption of Hydrus in the market, we are fortunate to be in a position to be able to readily absorb this settlement as we continue bringing our best-in-class MIGS technology to our customers and their patients.”
- Reference:
- Glaukos announces settlement of patent litigation with Ivantis, Inc. http://investors.glaukos.com/investors/press-releases/press-release-details/2021/Glaukos-Announces-Settlement-of-Patent-Litigation-with-Ivantis-Inc/default.aspx. Published Sept. 15, 2021. Accessed Sept. 15, 2021.
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