Molecular Instruments Announced The Patents Court Of England And Wales Has Ordered That Two Patents Owned By Advanced Cell Diagnostics, A Bio-Techne Company, Both Be Revoked, Advanced Cell Diagnostics' Infringement Claims Against Molecular Instruments Are Dismissed And Advanced Cell Diagnostics Make A Costs Payment Of ~$1.72M To Molecular Instruments
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Molecular Instruments announced that the Patents Court of England and Wales has revoked two patents owned by Advanced Cell Diagnostics, a Bio-Techne company (NASDAQ: TECH). The court dismissed Advanced Cell Diagnostics' infringement claims against Molecular Instruments and ordered Advanced Cell Diagnostics to pay approximately $1.72 million in costs.
May 21, 2024 | 7:21 pm
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The Patents Court of England and Wales has revoked two patents owned by Advanced Cell Diagnostics, a Bio-Techne company. The court also dismissed infringement claims against Molecular Instruments and ordered Advanced Cell Diagnostics to pay $1.72 million in costs.
The revocation of two patents and the dismissal of infringement claims represent a significant legal setback for Bio-Techne. The $1.72 million payment adds a financial burden. This news is likely to negatively impact Bio-Techne's stock price in the short term.
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