11 Jan 2013, BioSpectrum Bureau , BioSpectrum
Singapore: GI Dynamics has reached a settlement with WL Gore & Associates in litigation brought by the latter in the US District Court for the District of Arizona.
Under the settlement, GI Dynamics retains exclusive ownership and control of its patent portfolio, and both parties have dismissed all claims against each other. GI Dynamics has also granted Gore a non-exclusive, royalty-free license to use GI Dynamics' patents in the domain vasculature (blood vessels).
Gore is not licensed to use GI Dynamics' patents for any applications in the gastrointestinal tract, which is the area of the body in which GI Dynamics' products are designed to be used. Neither side will make any cash payments to the other, nor will any royalties be due.
Mr Stuart A Randle, president and CEO, GI Dynamics, said that, "The settlement confirms that GI Dynamics is the sole and exclusive owner of its technology and patent portfolio. With the litigation resolved, we will continue to focus on expanding the availability of EndoBarrier through new commercial centers and markets outside the US and the pivotal clinical trial in the US. We hope to address the unmet needs of the millions of people living with uncontrolled type 2 diabetes around the world."