GLAUKOS Corp 8-K, filed Sep 15, 2021
GLAUKOS Corp (GKOS)
About this 8-K
GLAUKOS Corp filed this 8-K on September 15, 2021, reporting on events of September 14, 2021.
Items reported
- Item 8.01: Other events
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Item 8.01. Other Events.
On September 14, 2021, Glaukos Corporation (the “Company” or “Glaukos”) entered into a Settlement Agreement (the “Settlement Agreement”) with Ivantis, Inc. (“Ivantis”), pursuant to which the Company and Ivantis agreed to terminate the patent infringement lawsuit the Company had filed against Ivantis on April 14, 2018 in the U.S. District Court for the Central District of California, Southern Division (the “Lawsuit”). The Lawsuit was previously disclosed by the Company in a Report on Form 8-K filed with the U.S. Securities and Exchange Commission on April 16, 2018. In the Lawsuit, the Company alleged that Ivantis’ Hydrus® Microstent device infringes the Company’s U.S. Patent Nos. 6,626,858 and 9,827,143.
Pursuant to the terms of the Settlement Agreement, Ivantis will pay Glaukos a cash payment of $60 million, $30 million of which would be paid on or before December 31, 2021, and $30 million of which would be paid by December 31, 2022. Additionally, Ivantis will make quarterly royalty payments to the Company in the amount of 10% of Ivantis’ Hydrus Microstent U.S. sales and any international sales supplied out of the U.S. through April 26, 2025, subject to a per-unit minimum payment. Glaukos and Ivantis will also submit a joint request to stay the pending litigation, and, upon Glaukos’ receipt of the first upfront payment, will file a stipulation dismissing with prejudice all of their claims against each other in the Lawsuit, which was scheduled for trial beginning on or around September 28, 2021. The parties also have agreed to mutual licenses and covenants not to sue the other party for patent infringement relating to Ivantis’ Hydrus Microstent or Glaukos’ micro-stent devices.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GLAUKOS CORPORATION | |
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| By: | /s/ Joseph E. Gilliam |
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| Name: Joseph E. Gilliam |
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| Title: Chief Financial Officer and Senior Vice President, Corporate Development |
Date: September 15, 2021