NEW YORK (GenomeWeb News) – Luminex today said that it had settled pending litigation with the Research Foundation for the State University of New York and the Board of Trustees of the University of Illinois, under which it will pay the universities a one-time cash payment of $4.35 million with no admission of guilt.
SUNY filed the suit in December 2007, alleging that Luminex's xMAP technology contains "various features" that are covered by patents it owns and that Luminex has never paid required royalties to the Research Foundation.
The complaint stems from a 1992 licensing deal signed between SUNY and Tm Technologies, a subsidiary of Tm Bioscience, which Luminex acquired in early 2007 for roughly $44 million in stock. The agreement provided Tm with exclusive rights to SUNY's DNA analysis technology with the right to sublicense to third parties.
Luminex said today that as a result of the settlement the parties have released all claims against each other in the case. All other terms of the settlement are being kept confidential, said Luminex.