Biotech Values

[DewDiligence]

Obviously each fact pattern is different, but I don't think I've ever heard of a double-digit settlement. Can you point to one?

One that comes immediately to mind is the Tercica-INSM case, in which INSM paid Tercica a 20% royalty on sales above $100M and 15% on the first $100M. The issue in that case was whether INSM was infringing on the process claims in Genenetch’s 6,331,414 patent (http://patft.uspto.gov/netacgi/nph-Parser?Sect1=PTO1&Sect2=HITOFF&d=PALL&p=1&u=%2Fnetahtml%2FPTO%2Fsrchnum.htm&r=1&f=G&l=50&s1=6,331,414.PN.&OS=PN/6,331,414&RS=PN/6,331,414 ), which was licensed to Tercica.

This was technically a judgment rather than a settlement, but INSM did not appeal the ruling, so the judgment was tantamount to a settlement.