Molecular Devices and Caliper Technologies Settle Patent Infringement Suit
November 04 2003 - 8:00AM
PR Newswire (US)
Molecular Devices and Caliper Technologies Settle Patent
Infringement Suit SUNNYVALE, Calif., Nov. 4 /PRNewswire-FirstCall/
-- Molecular Devices Corporation today announced it has settled the
patent infringement lawsuit filed against Molecular Devices by
Caliper Technologies Corp. in 2002 involving Molecular Devices'
IMAP products. In connection with the settlement, Molecular Devices
and Caliper have entered into a nonexclusive license agreement
pursuant to which Molecular Devices has agreed to pay to Caliper a
one-time licensing fee as well as royalties based on future sales
of IMAP products. Financial details of the settlement were not
disclosed. "We are pleased to have concluded this matter on terms
that will not be material to our business so we can focus our
resources on developing and marketing products that will address
the needs of our customers and facilitate growth in our business,"
stated Joseph D. Keegan, Ph.D., Molecular Devices' President and
Chief Executive Officer. About Molecular Devices Corporation
Molecular Devices Corporation is a leading supplier of
high-performance bioanalytical measurement systems that accelerate
and improve drug discovery and other life sciences research. The
Company's systems and consumables enable pharmaceutical and
biotechnology companies to leverage advances in genomics,
proteomics and combinatorial chemistry by facilitating the
high-throughput and cost-effective identification and evaluation of
drug candidates. The Company's solutions are based on its advanced
core technologies that integrate its expertise in engineering,
molecular and cell biology and chemistry. Molecular Devices enables
its customers to improve research productivity and effectiveness,
which ultimately accelerates the complex process of discovering and
developing new drugs. This press release contains "forward-looking"
statements, including statements related to the impact of the
settlement on our business and future growth of this business. Any
statements contained in this press release that are not statements
of historical fact may be deemed to be forward-looking statements.
Words such as "believes," "anticipates," "plans," "expects,"
"will," and similar expressions are intended to identify
forward-looking statements. There are a number of important factors
that could cause the results of Molecular Devices Corporation to
differ materially from those indicated by these forward-looking
statements, including, among others, risks detailed from time to
time in the Company's SEC reports, including its Annual Report on
Form 10-K for the year ended December 31, 2002 and its quarterly
report on Form 10-Q for the quarter ended September 30, 2003.
Molecular Devices Corporation does not undertake any obligation to
update forward-looking statements DATASOURCE: Molecular Devices
Corporation CONTACT: Tim Harkness of Molecular Devices Corporation,
+1-408-747-3533 Web site: http://www.moleculardevices.com/
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