Syneron Candela (NSDQ:ELOS) said today it inked a settlement deal with InMode Aesthetic Solutions to end a patent dispute between the companies.
Through the settlement deal, Wayland, Mass.-based Syneron Candela said that it offered InMode a sublicense to continue to market its bi-polar fractional radiofrequency product line. The companies did not release terms of the settlement deal.
Each party in the suit will cover their own costs, attorney’s fees and expenses, according to court documents from the U.S. District Court for the District of Massachusetts, while the charges were dismissed with prejudice.
“Candela is focused on science, results and trust. We invest heavily in Research and Development and will continue to enforce our intellectual property rights so that we can develop innovative technology and invest in clinical research to address unmet clinical needs in aesthetic medicine. We are pleased to have reached a settlement with InMode on mutually-agreeable terms,” Candela CEO Geoffrey Crouse said in a press release.
“InMode is a fast-growing company with an emphasis on innovation and science, having over 40 peer-reviewed publications and a strong IP portfolio. We look forward to moving on and fulfilling our mandate of launching advanced solutions for doctors and clinics worldwide,” InMode co-founder & CEO Moshe Mizrahy said in prepared remarks.
Syneron Candela targeted InMode with suits related to patent infringement, which it updated on last November, as well as a suit accusing the company of poaching its sales staff and encouraging the violation of non-competition agreements.
