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Stratagene Shares Plummet 9.3 Percent After Jury Sides With Third Wave in IP Suit

NEW YORK, Sept. 1 (GenomeWeb News) - Shares in Stratagene plummeted 9.3 percent and Third Wave Technologies' stock jumped 7.4 percent after Third Wave said it won its patent-infringement suit against Stratagene today.

 

As GenomeWeb News reported this morning, a jury has determined that Stratagene's quantitative PCR and RT-PCR reagents infringe two patents held by Third Wave Technologies as part of its Invader technology.

 

Stratagene's shares were down $.83 at $8.08 in mid-afternoon trading while Third Wave's shares were up $.38 at $5.52.

 

The jury, appointed by the United States District Court for the Western District of Wisconsin, found that certain embodiments of Stratagene's FullVelocity technology violate Third Weave's US patents Nos. 6,090,543 and 6,348,314. The jury will now hear arguments with respect to damages.

 

Third Wave filed the suit  last September. At the time, Stratagene said certain embodiments of its FullVelocity technology are not covered by Third Wave's patents.

 

In May, Stratagene countersued Third Wave claiming that Third Wave infringes patents that cover its FullVelocity technology. Stratagene's patents are USpatent Nos. 6,350,580; 6,528,254; 6,548,250; 6,589,743; and 6,893,819.

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