Deal summary reprinted from Strategic Transactions - January 2008
Edwards Lifesciences has signed a deal with Medtronic Vascular to resolve the patent infringement litigation that began in August 2003.
The infringement lawsuit included patents that pertained to modular or multi-part endovascular grafts used to treat different kinds of aneurysms, including abdominal aortic aneurysms (AAAs). Several products in question included Medtronic's AneuRx stent graft and Talent stent graft system. According to terms of the agreement, Medtronic will pay $37.5mm in cash to Edwards and Endogad Research Pty. (inventors of the disputed patents) for nonexclusive licenses to the patents as well as other patents to endovascular AAA grafts and delivery systems. Medtronic also bought delivery system assets that will be used with AAA grafts. Edwards will continue its litigation with Cook over its Zenith endovascular graft and WL Gore for its Excluder bifurcated endoprothesis.
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