Sequenom, Inc. (Sequenom), a diagnostic testing and genetics analysis company, has reached a settlement agreement with Ibis Biosciences, Inc. (Ibis Biosciences) in a patent infringement suit filed by Sequenom in the US District Court for the District of Delaware. Under the agreement, Ibis Biosciences has agreed to pay $1 million within 30 days.
Pursuant to the terms of the agreement, Sequenom agreed to grant Ibis Biosciences and its affiliates, including Abbott Laboratories, a non-exclusive license under the three mass spectrometry-based patents involved in the lawsuit and certain pending mass-spectrometry-based applications and foreign counterparts to manufacture, use, practice, sell, offer to sell, and import products and methods protected by the licensed patents. As part of the Agreement, Sequenom also agreed to dismiss the litigation with prejudice and have granted Ibis Biosciences, and its affiliates, immunity from suit for patent infringement for past, present or future damages related to Ibis Biosciences’ T5000 Biosensor System and T6000 System.