Sequenom to Receive $1M from Ibis as Firms Settle IP Dispute

NEW YORK (GenomeWeb News) – Sequenom disclosed in a filing with the US Securities and Exchange Commission today that it has reached a settlement with Ibis Biosciences in a patent infringement suit filed by Sequenom a year ago.

Under the agreement, Ibis will pay Sequenom $1 million within 30 days and the litigation will be dismissed. Under terms of the settlement agreement, Ibis and its parent company Abbott Laboratories will receive a non-exclusive license under three mass-spectrometry-based applications.

Sequenom had claimed in the suit that Ibis' T5000 Biosensor System and related technology infringed the Sequenom patents.