Align Technology and Straumann Group Terminate Discussions Concerning a Possible Development and Distribution Agreement
June 14 2019 - 1:59AM
Align Technology, Inc. (NASDAQ: ALGN) and Straumann Group
today announced that they have terminated discussions regarding a
possible development and distribution agreement that was disclosed
as part of the patent settlement agreement announced by the two
companies in March. As a result, Straumann will pay Align an
additional $16 million in lieu of the development and distribution
agreement.
This settlement between Align and Straumann
brought an end to outstanding patent disputes in the U.S.,
the U.K. and Brazil, including those involving ClearCorrect, a
subsidiary of Straumann. As part of this settlement, Align and
Straumann signed a non-binding letter of intent for a 5-year global
development and distribution agreement whereby Straumann would
distribute 5,000 iTero Element scanners which would be fully
integrated into the Straumann/Dental Wings CARES®/DWOS® workflow.
Additionally, the parties considered exploring the possibility of
offering existing iTero users access to Straumann’s prosthetic and
surgical planning workflows.
About Align Technology, Inc.
Align Technology designs and manufactures the
Invisalign® system, the most advanced clear aligner system in the
world, and iTero® intraoral scanners and services. Align’s products
help dental professionals achieve the clinical results they expect
and deliver effective, cutting-edge dental options to their
patients. Visit www.aligntech.com for more information.
For additional information about the Invisalign
system or to find an Invisalign doctor in your area, please visit
www.invisalign.com. For additional information about iTero digital
scanning system, please visit www.itero.com.
Align Technology |
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Zeno Group: |
Madelyn Homick |
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Sarah Johnson |
(408) 470-1180 |
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(828) 551-4201 |
mhomick@aligntech.com |
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sarah.johnson@zenogroup.com |
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