Straumann Group will pay Align Technology $16 million after ending discussions on a development and distribution agreement.
The distribution deal was part of a patent settlement agreement that the companies came to in March. Align and Straumann ended patent disputes in the U.S., U.K., and Brazil that involved ClearCorrect, a subsidiary of Straumann.
Per the settlement, Align and Straumann signed a non-binding letter of intent for a five-year global development and distribution agreement. Straumann had agreed to distribute 5,000 iTero Element scanners from Align and would integrate the technology into its workflow.
The two companies terminated their development and distribution discussions on June 13.
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The distribution deal was part of a patent settlement agreement that the companies came to in March. Align and Straumann ended patent disputes in the U.S., U.K., and Brazil that involved ClearCorrect, a subsidiary of Straumann.
Per the settlement, Align and Straumann signed a non-binding letter of intent for a five-year global development and distribution agreement. Straumann had agreed to distribute 5,000 iTero Element scanners from Align and would integrate the technology into its workflow.
The two companies terminated their development and distribution discussions on June 13.
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