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Hologic settles Ethicon patent infringement beefs for $13 million
Hologic Inc. (NSDQ:HOLX) agreed to pay $12.5 million to Johnson & Johnson (NYSE:JNJ) subsidiary Ethicon Endo-Surgery to settle a pair of patent infringement cases involving breast biopsy technology.
Ethicon sued Hologic in 2007 in Ohio and in 2009 in Delaware, accusing the Bedford, Mass.-based women’s health products maker of violating a quartet of patents related to Ethicon’s Mammotome breast biopsy system with Hologic’s ATEC system, and of violating false advertising laws.
The secret to long-term relationships
J&J loses bid to revive Guidant case against Abbott, Boston Scientific
Boston Scientific Corp. (NYSE:BSX) got some rare good news in connection with its infamous acquisition of Guidant Corp. when a federal judge denied a bid by Johnson & Johnson (NYSE:JNJ) to revive a $5.5 billion lawsuit against BSX and Abbott (NYSE:ABT) over the Guidant buyout.
Johnson & Johnson appeals patent ruling
Johnson & Johnson (NYSE:JNJ) appealed a federal judge’s ruling that four of its Cordis Corp. subsidiary’s drug-eluting stent patents are invalid, the latest salvo in its long-running infringement battle with Boston Scientific Corp. (NYSE:BSX).
The patents in question are at the heart of complicated legal wrangling involving the Natick, Mass.-based medical device giant, its New Brunswick, N.J.-based rival and its competitor/partner Abbott (NYSE:ABT). The dispute centers around Boston Scientific’s Promus stent, a private-label version of Abbott’s Xience V stent, and the Cordis Cypher.
New investor takes a $1 million stake in MedVentive
Financial backers continue to line up behind MedVentive Inc., with a new group ponying up $1 million for the Waltham, Mass.-based healthcare management company.
The new money lifts the total amount MedVentive has raised through its Series C round to $10 million. The company said in July 2009 that it had closed on $7.25 million in a round led by Excel Venture Management of Boston.
The additional funding was disclosed in securities documents filed Feb. 19, but did not identify the new investor.
Top suit to leave Inverness’s health management unit
Dr. Ron Geraty, CEO at Alere LLC — the health management unit of Inverness Medical Innovations Inc. (NYSE:IMA) — will soon be leaving the company, two years after Alere was acquired by Inverness.
Geraty is expected to step down April 21, although the exact date could be changed by mutual agreement, the company said in a Feb. 19 regulatory filing. No successor was immediately named and Inverness did not disclose why Geraty, 62, was leaving the company.
Vital Images’ Q4 losses widen 63 percent
Vital Images Inc. (NSDQ:VTAL) posted fourth-quarter sales of $6.6 million for the three months ended Dec. 31, 2009, down 18.8 percent compared with $8.1 million during the same period in 2008. Net losses widened 63.2 percent to $630,000, compared with $386,000 during Q4 2008:
Parcus Medical pulls in $1.3 million in equity sale
STURGEON BAY, Wisconsin — Surgical products manufacturer Parcus Medical LLC raised $1.3 million in an equity sale, according to a Securities & Exchange Commission filing.
The company, which sells surgical devices including screws, suture anchors, screw drivers and guide wires, is looking to raise a total of $2 million.
CardioNet swings to Q4 losses
CardioNet Inc. (NSDQ:BEAT) posted fourth-quarter sales of $33.3 million for the three months ended Dec. 31, 2009, down 3.3 percent compared with $34.4 million during the same period in 2008. Net losses were $15.9 million, compared with net income of $6.9 million during Q4 2008:
Caliper forms advisory board, releases new DNA sequencing instrument
Caliper Life Sciences Inc. (NSDQ:CALP) formed a scientific advisory board of DNA sequencing experts and launched its first gene sequencing instrument, the LabChip XT.
The Hopkinton, Mass.-based lab instruments maker said it will work with the members of its new board to identify opportunities to improve sequencing workflows using its microfluidics technology.