Affymax & Janssen Biotech Settle Patent Dispute

The settlement is to end the arbitration and litigation related to certain intellectual property emerging from a 1992-1995 research collaboration.

US biopharmaceutical company Affymax, Inc. announced Wednesday that it has reached a global settlement agreement with Janssen Biotech, Inc. (a subsidiary of Johnson & Johnson) and certain of its affiliated companies to end the arbitration and litigation related to certain intellectual property emerging from a 1992-1995 research collaboration.

Under the agreement, Affymax obtains a release of claims, a covenant not to sue and license to the intellectual property in dispute, thereby eliminating potential claims by Janssen regarding the use, manufacture, import, sale and licensing of peginesatide worldwide.

As part of the settlement, Affymax will pay Janssen upfront fees and milestones not to exceed $13 million dollars. Upfront fees consist of two installment pay