| AGREEMENT |
Genentech, PDL settle patent disputes Genentech Inc. and Protein Design Labs said Monday they resolved their dispute regarding Protein Design's antibody humanization patents and certain of Genentech's humanized antibodies. Under terms of the agreement, Genentech, of South San Francisco, has exercised licenses under the patent licensing master agreement between the two companies for Xolair and for Raptiva antibody products. These exercises will result in payment of license exercise fees to Protein Design in January 2004. Royalty payments, including those related to 2003 sales of the newly licensed products, will begin in the first quarter of 2004. In addition, Genentech has agreed to exercise a license for its Avastin antibody product, contingent upon approval of that product by the U.S. Food and Drug Administration. Protein Design, of Fremont, agreed to certain royalty reductions for significant levels of annual aggregate sales of Genentech products licensed under the master agreement. The revised royalty rate structure would apply reciprocally to any Protein Design products licensed under the master agreement. |
|
Want more information ? Interested in the hidden information ? Click here and do your request. |