Vascular Solutions settles Terumo patent infringement beef for $812k

October 23, 2013 by Brad Perriello

Vascular Solutions agrees to settle a patent infringement beef with Terumo over its R Band hemostasis device  for $812,000 and a promise that Terumo won't sue over its Vasc Band device.

Vascular Solutions settles Terumo patent infringement beef for $812k
Vascular Solutions settles Terumo patent infringement beef for $812k

Vascular Solutions (NSDQ:VASC) said it agreed to settle a patent infringement beef with Terumo Corp. (TYO:4543) over hemostasis devices for a 1-time payment of $812,000 and a promise from Terumo not to sue again over Vascular Solutions' Vasc Band device.

Terumo sued Vascular Solutions in February, accusing it and Chinese contract manufacturer Lepu Medical Technology infringing the patents and trademark for its TR Band hemostasis device with Vascular Solutions' R Band product.

The lawsuit, filed Feb. 14 in the U.S. District Court for New Jersey, sought a judgment of infringement, injunctions barring further infringement, infringement damages (tripled for a finding of willful infringement) and legal fees for both the patent and trademark infringement charges, according to court documents. Terumo later added allegations that Vascular Solutions' newer Vasc Band device also infringed the patents.

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