Quick Takes: $25M for U. of Ala. in Patent Suit, MIT in Singapore

July 10, 2006
  • A biotechnology company has agreed to pay the University of Alabama System $25 million to settle a patent infringement lawsuit, the company, Nektar Therapeutics, announced Friday. The university's trustees sued Nektar and Milton Harris, the founder of Nektar Alabama, in February, charging that Harris, a former professor at the university's Huntsville campus, had used patents rightly owned by the university to create technologies that are valued at nearly $200 million. Under the agreement, Nektar and Harris have paid the university $15 million up front and will pay $1 million a year over 10 years, which Alabama-Huntsville officials said they would use for scholarships and endowment building.
  • The Massachusetts Institute of Technology and the National Research Foundation of Singapore on Friday announced the creation of a joint research center, in Singapore, that will involve faculty members and graduate students from MIT and from many Asian universities.
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