Immersion Corporation (NASDAQ:IMMR), the leading developer and licensor of haptics technology, and Simbionix USA Corporation, the world's leading provider of simulation and training products for medical professionals and the healthcare industry, today announced that the companies have entered into a new license agreement and have successfully settled litigation that was pending in the United States District Court for the Northern District of Ohio. The signing of a non-exclusive, worldwide license agreement for Immersion's extensive patent portfolio for use in medical training and simulation successfully brings to a close patent infringement litigation that Immersion initiated in April 2008. The settlement resolves outstanding issues; terms are confidential.
“As a leader in medical simulation, Simbionix understands the critical value of haptics in engaging a clinician's sense of touch for care giving.”
"This positive development is definitive validation of our licensing strategy and strengthens the value of our intellectual property," said Craig Vachon, Senior Vice President and General Manager of Immersion. "As a leader in medical simulation, Simbionix understands the critical value of haptics in engaging a clinician's sense of touch for care giving."
"We're pleased with this successful resolution -- the agreement lets us get past the cost and distraction of dispute, and allows us to focus on our continued record growth and acceptance of Simbionix products by the simulation industry and professional societies and medical training centers around the world," said Gary Zamler, chief executive officer of Simbionix.
"We are excited about the new agreement which demonstrates the ability of two leading technology companies to push the boundaries of simulation technology," said Ran Bronstein, Simbionix founder and President.
Advancing GPCR drug discovery with fragment screening using GCI technology