HERCULES, Calif.--(BUSINESS WIRE)--Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb), a global leader of life science research and clinical diagnostic products, today announced that Bio-Rad and 10x Genomics, Inc. (Nasdaq: TXG) have reached a final settlement to resolve multiple long-running litigations in Massachusetts, Delaware, California, Germany, and before the International Trade Commission.
The settlement includes a global patent cross-license for patents held by both Bio-Rad and 10x Genomics, resolving outstanding issues in the field of single-cell genomics. In addition to past and future royalties, Bio-Rad receives broad freedom-to-operate in the single-cell market and maintains exclusivity to its microwell single-cell intellectual property.
Under the terms of the settlement, Bio-Rad and 10x Genomics have granted each other a non-exclusive, worldwide, royalty-bearing license to develop products and services related to single-cell analysis. Both companies have agreed that each company’s patents are owned and valid.
"We are pleased to put an end to the worldwide litigations in the license agreement between Bio-Rad and 10x Genomics,” said Norman Schwartz, Bio-Rad President and Chief Executive Officer. “This settlement and the resulting license agreements along with our other recent IP settlement serve as a validation of the importance and value of Bio-Rad's intellectual property rights," he added.
Bio-Rad Laboratories, Inc. (NYSE: BIO and BIOb) is a global leader in developing, manufacturing, and marketing a broad range of innovative products for the life science research and clinical diagnostic markets. With a focus on quality and customer service for over 65 years, our products advance the discovery process and improve healthcare. Our customers are university and research institutions, hospitals, public health and commercial laboratories, biotechnology, pharmaceutical, as well as applied laboratories that include food safety and environmental quality. Founded in 1952, Bio-Rad is based in Hercules, California, and has a global network of operations with approximately 7,700 employees worldwide. Bio-Rad had revenues exceeding $2.5 billion in 2020. Please visit bio-rad.com for further information.
This release may be deemed to contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. These risks and uncertainties include risks relating to intellectual property rights, international legal and regulatory risks, our ability to develop and market new or improved products, our ability to compete effectively, and product quality and liability issues. For further information regarding our risks and uncertainties, please refer to the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operation" in Bio-Rad's public reports filed with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. Bio-Rad cautions you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.