MADISON, Wis., Dec. 19 /PRNewswire-FirstCall/ -- Third Wave Technologies Inc. today announced that the federal judge overseeing the company’s successful patent infringement suit against Stratagene Corp. has tripled the damages awarded to Third Wave to $15.9 million and ruled that Stratagene must pay Third Wave’s attorney fees, in an amount to be determined by the court.
A federal jury in early September found that Stratagene infringed two key Third Wave patents covering its proprietary molecular methods. The jury also has found Stratagene liable for willful patent infringement and awarded Third Wave $5.3 million in damages. Third Wave had sought the additional damages, given the willful infringement verdict. The judge in late September also entered a permanent injunction that prohibits Stratagene Corp. from making, selling or offering to sell its FullVelocity QPCR and QRT-PCR products and any other products that practice Third Wave’s patented Invader(R) methods.
“This is a significant decision and one that recognizes the value of Third Wave’s proprietary methods,” said Kevin T. Conroy, president and chief executive officer of Third Wave. “We believe that it will send a strong signal to others who would infringe Third Wave’s unique and valuable intellectual property.”
About Third Wave Technologies
Third Wave is a leader in the development and marketing of molecular diagnostics for a variety of DNA and RNA analysis applications, providing physicians and researchers with superior molecular solutions. Third Wave’s Invader(R) chemistry provides the company’s customers with exceptional performance, scalability and ease of use. The company offers a number of clinical products based on its Invader(R) chemistry for genetic testing related to multiple disease areas. For more information about Third Wave and its products, please visit the company’s website at www.twt.com.
All statements in this news release that are not historical are forward- looking statements within the meaning of the Securities Exchange Act of 1934 as amended. Such forward-looking statements are subject to factors that could cause actual results to differ materially for Third Wave from those projected. Those factors include risks and uncertainties relating to technological approaches of Third Wave and its competitors, product development, manufacturing, market acceptance, cost and pricing of Third Wave products, dependence on collaborative partners and commercial customers, successful performance under collaborative and commercial agreements, competition, the strength of the Third Wave intellectual property, the intellectual property of others and other risk factors identified in the documents Third Wave has filed, or will file, with the Securities and Exchange Commission. Copies of the Third Wave filings with the SEC may be obtained from the SEC Internet site at www.sec.gov. Third Wave expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Third Wave’s expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based. Third Wave Technologies, Invader and the Third Wave logo are trademarks of Third Wave Technologies, Inc.
Third Wave Technologies Inc.
CONTACT: Rod Hise of Third Wave Technologies, +1-608-663-4010
Web site: http://www.twt.com/
