Sequenom to Receive $1M from Ibis as Firms Settle IP Dispute | GenomeWeb

NEW YORK (GenomeWeb News) – Sequenom disclosed in a filing with the US Securities and Exchange Commission on Tuesday that it has reached a settlement with Ibis Biosciences in a patent infringement suit filed by Sequenom a year ago.

Under the agreement, Ibis will pay Sequenom $1 million within 30 days and the litigation will be dismissed. Under terms of the settlement agreement, Ibis and its parent company Abbott Laboratories will receive a non-exclusive license under three mass-spectrometry-based applications.

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