Loading, Please Wait...
SAN JOSE, Calif., June 13, 2019 (GLOBE NEWSWIRE) -- Align Technology, Inc. (NASDAQ: ALGN) and Straumann Group today announced that they have terminated discussions regarding a possible development and distribution agreement that was disclosed as part of the patent settlement agreement announced by the two companies in March. As a result, Straumann will pay Align an additional $16 million in lieu of the development and distribution agreement.
This settlement between Align and Straumann brought an end to outstanding patent disputes in the U.S., the U.K. and Brazil, including those involving ClearCorrect, a subsidiary of Straumann. As part of this settlement, Align and Straumann signed a non-binding letter of intent for a 5-year global development and distribution agreement whereby Straumann would distribute 5,000 iTero Element scanners which would be fully integrated into the Straumann/Dental Wings CARES®/DWOS® workflow. Additionally, the parties considered exploring the possibility of offering existing iTero users access to Straumann’s prosthetic and surgical planning workflows.
About Align Technology, Inc.
Align Technology designs and manufactures the Invisalign® system, the most advanced clear aligner system in the world, and iTero® intraoral scanners and services. Align’s products help dental professionals achieve the clinical results they expect and deliver effective, cutting-edge dental options to their patients. Visit www.aligntech.com for more information.
For additional information about the Invisalign system or to find an Invisalign doctor in your area, please visit www.invisalign.com. For additional information about iTero digital scanning system, please visit www.itero.com.
|Align Technology||Zeno Group:|
|Madelyn Homick||Sarah Johnson|
|(408) 470-1180||(828) 551-4201|