NEW YORK (GenomeWeb) – Swedish biotech company Genovis announced today that it has settled a patent infringement lawsuit filed against Promega related to its antibody characterization technology, ending all litigation between the companies.
The specific details of the settlement were not disclosed, but Genovis said that Promega has taken a royalty-bearing, worldwide license to the intellectual property involved in the litigation.
"I am pleased we were able to reach a settlement with a favorable business solution that accommodates Genovis' long-term growth strategy," Genovis CEO Fredrik Olsson said in a statement.
The dispute began in late 2014 when Genovis filed a lawsuit alleging that Promega's IdeS protease, which is used to characterize therapeutic antibody candidates using liquid chromatography-mass spectrometry, infringed one of its US patents. The patent, No. 7,666,582, is exclusively licensed to Genovis and covers its Fabricator enzyme product.
Promega had denied infringement and sought a court ruling that the patent was invalid.
In a statement issued today, Promega said that with the settlement it maintains the full freedom to market its IdeS and related IdeZ proteases.