With certain exclusions, this agreement applies to the companies’ existing products, as well as new products for at least the next five years, and also includes a provision not to clone one another’s products
Medtronic and Tandem Diabetes Care announced that they have entered into a non-exclusive patent cross-license agreement for certain technologies in the field of diabetes.
Cross-licensing each other’s patent portfolios enables both companies to focus on helping people with diabetes through innovation of future products and services, while avoiding the distraction of potential legal disagreements.
With certain exclusions, this agreement applies to the companies’ existing products, as well as new products for at least the next five years, and also includes a provision not to clone one another’s products. No payments will be exchanged as part of this agreement and further terms were not disclosed.
Tandem Diabetes Care is a medical device company dedicated to improving the lives of people with diabetes through relentless innovation and revolutionary customer experience. The Company takes an innovative, user-centric approach to the design, development and commercialization of products for people with diabetes who use insulin.
Tandem’s flagship product, the t:slim X2™ insulin pump, is capable of remote software updates using a personal computer and features integrated continuous glucose monitoring. Tandem is based in San Diego, California.
Medtronic is working together with the global community to change the way people manage diabetes. The company aims to transform diabetes care by expanding access, integrating care and improving outcomes, so people living with diabetes can enjoy greater freedom and better health.
Source: Company Press Release