Interventional device firms RITA Medical Systems and Boston Scientific have settled a patent dispute between the companies.
Under the terms of the settlement agreement, RITA of Mountain View, CA, will make a one-time payment of $2.65 million to the University of Kansas and the University of Nebraska, who are the licensors of several of the disputed patents.
RITA has also agreed to grant a royalty-bearing license to Boston Scientific for RITA’s infusion technology for use in future Boston Scientific products. Boston Scientific, of Natick, MA, has agreed to not market or sell products based on the license for 18 months after the date of the agreement.
By AuntMinnie.com staff writersApril 7, 2003
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