Ocular Therapeutix announced that it has settled litigation with Mati Therapeutics regarding alleged infringement of U.S. Patent 7,922,702. Both parties have dismissed all claims and counterclaims against each other in that litigation, which was pending in the United States District Court for the District of Delaware. Ocular had sought a declaration from the court that its first commercial drug product, DEXTENZA, does not infringe Mati’s U.S. Patent 7,922,702. Under the settlement, Mati did not grant a patent license. Instead, both parties granted to each other a limited covenant not to sue regarding infringement by DEXTENZA, only as approved under New Drug Application number 208742. As such, there were no financial considerations by either party. All other terms of settlement are confidential.
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