December 04, 2004
Boston Scientific and former venutre partner battle over contract
The breach of contract dispute between two former venture partners is going forward. Boston Scientific Corp. was sued in 2001 by Medinol, Ltd., which claims that Boston Scientific set up its own stent manufacturing facility in violation of the parties’ licensing agreement. Stents are tubes inserted into blocked arteries to unblock them.
The parties apparently had a five year relationship under which Boston Scientific agreed to be the distributor for Medinol’s Nir brand stents. That relationship fell apart in 2000, and Medinol says Boston Scientific then copied Medinol’s machinery and set up its own competing manafacturing facility in Ireland.
Judge Alvin Hellerstein of the Southern District of New York this week dismissed counts for theft of trade secrets but ruled that Medinol's contract claims could go forward. He set a hearing for January 13.
TrackBack URL for this entry:
Listed below are links to weblogs that reference Boston Scientific and former venutre partner battle over contract: