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news.US-based medical device company Sutura has settled a patent infringement lawsuit with Abbott Laboratories.
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The settlement provides for a cross license of the Hathaway patents, licensed to Abbott by Indiana University, and the Sutura Nobles patents. In addition, Abbott has agreed to pay Sutura $23 million as part of the settlement agreement.
David Teckman, president and CEO of Sutura, said: “We now look forward to moving on with our continued enhancement of Sutura’s product line of vascular suturing devices, in particular the Sutura EL device.”