Illumina and Applera Agree to Settle All Disputes
Illumina, Inc. announced that it has agreed to settle all existing litigation with Applera Corporation and its Applied Biosystems Group ("Applera").
The settlement encompasses two lawsuits related to a joint development agreement between the companies entered into in November 1999. Key components of the settlement include an exchange of royalty-free cross-licenses to certain intellectual property rights, express termination of the joint development agreement, dismissal of a patent infringement action brought by Applera in the Northern District of California federal court, termination of an arbitration proceeding, and dismissal of Illumina's remaining claim in an action brought by Illumina against Applera in San Diego Superior Court.
As a component of the November 1999 joint development agreement, Applera provided Illumina $10.0 million in R&D funding that was repayable to Applera from the profits of anticipated collaboration products. As a result of the settlement, Illumina will remove the $10.0 million liability from its balance sheet, make a one-time payment of $8.5 million to Applera and record a gain of $1.5 million.
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