Nanogen, CombiMatrix settle lawsuit

Oct. 1, 2002 — Nanogen Inc. and CombiMatrix Corp. have reached a settlement over disputed technology, according to separate news releases.

As part of the deal, Nanogen will receive cash payments totaling $1 million, royalty payments of 12.5 percent on sales of products developed by CombiMatrix or its affiliates incorporating the technology and about 4 million shares of CombiMatrix’s common stock. The two firms also will drop all claims and counterclaims, including any rights to patents issued to CombiMatrix, the releases said.

Nanogen filed a complaint in 2000 against CombiMatrix and Donald Montgomery, a CombiMatrix executive and former Nanogen employee. The complaint included allegations of misappropriation of technology, disclosure of trade secrets and breach of written contract.

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