ev3 settles embolic coil patent litigation for $15.4 million
ev3 and its subsidiaries have reached agreements to resolve patent infringement and other litigation with the University of California and Boston Scientific concerning embolic protection devices and detachable embolic coils for treat aneurysms.
Under the terms of the agreements, claims by all parties will be dismissed with prejudice and ev3 will not be required to stop selling any of its existing product lines or make any future royalty payments.
Also, ev3 will make a one-time payment of approximately $11.7 million to the University of California and a one-time payment of approximately $3.7 million to Boston Scientific.
The litigation involving the University of California was scheduled to go to trial on Oct. 16 and has been continued by the court for purposes of permitting the parties to enter into a final written agreement with the court in early December.
Under the terms of the agreements, claims by all parties will be dismissed with prejudice and ev3 will not be required to stop selling any of its existing product lines or make any future royalty payments.
Also, ev3 will make a one-time payment of approximately $11.7 million to the University of California and a one-time payment of approximately $3.7 million to Boston Scientific.
The litigation involving the University of California was scheduled to go to trial on Oct. 16 and has been continued by the court for purposes of permitting the parties to enter into a final written agreement with the court in early December.