STRATAGENE SETTLES INFRINGEMENT CASE WITH THIRD WAVE FOR $10.75M

Third Wave Technologies and Stratagene recently announced they had reached an out-of-court settlement regarding a case litigated in the U.S. District Court in Wisconsin in September 2005 and appealed to the U.S. Court of Appeals for the Federal Circuit.

Stratagene has agreed to pay Third Wave $10.75 million in cash as full satisfaction for the judgment, the companies said. The firms also have agreed to stay any further litigation for nine months.

The companies further said they will seek either dismissal without prejudice or an extension of the trial date for a lawsuit brought by Stratagene against Third Wave in U.S. District Court in Delaware.