Innogenetics concludes settlement and licensing agreement in the field of Hepatitis C diagnostics
Innogenetics announced an agreement with Novartis on major licensing terms in the field of hepatitis C Virus (HCV) diagnostics. According to the license agreement, Novartis grants Innogenetics a license to its Hepatitis C patent rights in the field of HCV immunodiagnostics in certain territories. In parallel, a settlement agreement was reached thereby terminating the ongoing patent litigation between the parties. The agreements maintain Innogenetics commercial rights in those territories where it has a business interest.
Hepatitis C immunodiagnostics is key for the detection and confirmation of Hepatitis C Virus. At present the technique is routinely used in clinical diagnostics and serology.
At the end of 1998, Innogenetics was subject to descriptive and seizure proceedings based on the allegation that the Company would be infringing two European patents relating to HCV. The action was originally lodged by Chiron, which has been acquired by Novartis in 2006. The present agreements terminate the actions and provide Innogenetics the rights to remain commercially active in HCV immunodiagnostics in those territories where it has a business interest.
No financial details were disclosed.
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