30 Jan Stratagene sets aside $21M to pay Third Wave pending appeal
Stratagene Corporation has posted a $21 million bond to pay damages and legal fees to Madison-based rival Third Wave Technologies in a patent case, pending appeal.
Third Wave and Stratagene have been battling since late 2004 over which company has the right to commercialize certain molecular diagnostics methods. A judge last September ruled in favor of Third Wave, then later awarded them tripled damages of $15.9 million.
Stratagene is appealing the case. A company statement said the jury was prevented from hearing about Stratagene’s patents on the technology and that Third Wave’s patents were interpreted too broadly. Stratagene also claims it only made $400,000 in related product sales.
Third Wave uses the technology in its Invader line of products. Stratagene was given an injunction in September preventing it from selling its FullVelocity QPCR and QRT-PCR systems.
• Third Wave wins triple damages
• 9/5/2005 – Stratagene to appeal verdict
• 5/9/2005 – Stratagene files its own lawsuit
• 9/15/04 – Third Wave files lawsuit