BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Lumenis Ltd. (LUME) And Danish Dermatologic Development A/S (DDD) Agree To Settlement Of Patent Litigation And License Agreement


10/19/2005 5:11:07 PM

YOKNEAM, Israel, Aug. 11 /PRNewswire-FirstCall/ -- Lumenis(R) Ltd. (OTC Pink Sheets: LUME.PK) and Danish Dermatologic Development A/S (DDD) announced that they have agreed to a settlement and license agreement resolving certain patent litigation.

Under the terms of the agreement, which commenced July 1, 2004, Lumenis granted DDD unlimited, non-exclusive, worldwide licenses for Lumenis patents relating to the use of intense pulsed light in aesthetic and medical applications including all of its IPL(R)-related patents. DDD will pay Lumenis royalties on its product sales up to a predetermined cap. In addition, DDD granted Lumenis a fully-paid up, worldwide, non-exclusive license to DDD's patents. The settlement and license agreement includes other confidential terms.

Avner Raz, President and Chief Executive Officer of Lumenis, stated, "We are pleased this litigation has been resolved on mutually beneficial terms. This agreement reflects our determination to resolve ongoing legal disputes and protect Lumenis' valuable intellectual property."

About Lumenis

Lumenis is a global developer, manufacturer and seller of laser and light- based devices for medical, aesthetic, ophthalmic, dental and veterinary applications. The Company offers a wide range of products along with extensive product support systems including training, education and service. Lumenis invests heavily in research and development to maintain and enhance its leading industry position. The Company holds numerous patents worldwide on its technologies. For more information about Lumenis and its products, log onto http://www.lumenis.com/

The statements in this press release that are not historical facts are forward-looking statements subject to risks and uncertainties. The Company's actual results could differ materially from those anticipated in the forward- looking statements based on a variety of factors. These include, among others, uncertainties with respect to market acceptance of the Company's products, obtaining regulatory approvals for new products or for the sale of existing products in new markets and enforcement of intellectual property rights, risks associated with competition and competitive pricing pressures, general economic conditions, the Company's international operations, the Company's ability to integrate its operations with those of acquired businesses, the outcome of the Securities and Exchange Commission investigation and several securities class action lawsuits to which the Company is subject, uncertainties relating to the Company's continuing liquidity, and other risks detailed from time to time in the reports filed by Lumenis with the SEC including its annual report on Form 10-K and quarterly reports on Form 10-Q.

Contacts: Lauri Hanover, CFO +972-4-959-9273 lhanover@lumenis.com

Lumenis Ltd.

CONTACT: Lauri Hanover, CFO, Lumenis Ltd., +972-4-959-9273,lhanover@lumenis.com



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES