Medical Device Patent

New York, NY: (Dec-04-07) Sutura, Inc., a California-based medical device company, brought a lawsuit against Abbott Laboratories, alleging that it infringed on its patents. The dispute was over Hathaway patents, licensed to Abbott by Indiana University, and Sutura Nobles patents. Sources revealed that the two sides had reached a settlement and that there will be a cross license of the Hathaway and the Sutura Nobles patents. In addition, Abbott has agreed to pay Sutura $23 million as part of the settlement agreement. Sutura officials claimed that both sides reached the settlement amicably and look forward to a continued relationship. [CNN NEWS: PATENT INFRINGEMENT]

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Published on Dec-5-07