ImClone to Pay $65 Million in Settlement

Repligen has reached a settlement in the lawsuit against ImClone for infringement of U.S. Patent No. 4,663,281 based on ImClone’s manufacture and sale of Erbitux.

The settlement provides for ImClone to make a payment of $65 million to Repligen and the Massachusetts Institute of Technology (MIT), resulting in net proceeds to Repligen of approximately $40 million, Repligen said.

The settlement agreement serves as the basis for Repligen and MIT to dismiss the lawsuit against ImClone, and Repligen has granted ImClone a nonexclusive sublicense to certain patent rights.

The patent, which covers the use of certain genetic elements that increase protein production in a mammalian cell, is assigned to MIT and exclusively licensed to Repligen.