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Isis Pharmaceuticals Says Patent Suits Settled

September 17, 2002|Bloomberg News

Isis Pharmaceuticals Inc. said it and rival Sequitur Inc. have settled three patent infringement lawsuits involving biotechnology research. Terms weren't disclosed.

Isis said it granted licenses for certain patents to Sequitur, which agreed to make payments to Isis and limit the types of chemistry, called antisense, it can use in research. Isis had claimed that Sequitur was using Isis technology without permission.

"The settlement terms underscore the importance of Isis' intellectual property position in antisense technology," Isis Chief Financial Officer B. Lynne Parshall said.

Representatives of Natick, Mass.-based Sequitur could not be reached for comment.

Shares of Carlsbad-based Isis rose 28 cents to $9.25 on Nasdaq. The announcement was made after the close of regular U.S. trading.

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