QUEENSBURY, N.Y.--(BUSINESS WIRE)--AngioDynamics, Inc. (NASDAQ:ANGO), a leading provider of innovative medical devices used by interventional radiologists, nephrologists and surgeons for the minimally invasive treatment of cancer and peripheral vascular disease, announced today that it has entered into an agreement that settles all patent litigation with VNUS Medical Technologies. Under the terms of the Settlement Agreement, AngioDynamics has agreed to pay VNUS Medical approximately $6.8 million and a royalty, payable quarterly, on U.S. sales of NeverTouch™ VenaCure® products from June 1, 2008 until the expiration date of the applicable patents. In exchange, VNUS Medical has granted AngioDynamics a non-exclusive and non-sublicenseable license to the applicable patents for use in endovenous laser therapy. All litigation between the parties will be dismissed.
