On January 7, 2022 Guardant Health, Inc. (Nasdaq: GH) reported that it has reached an agreement to settle all pending litigation concerning the company’s digital sequencing technology patents with Foundation Medicine, Inc (Press release, Guardant Health, JAN 7, 2022, View Source [SID1234598411]). Pursuant to the settlement agreement, Foundation Medicine will pay Guardant Health $25 million as well as future royalties for the remaining term of the licensed digital sequencing technology patents. In turn, Guardant Health will grant Foundation Medicine a non-exclusive license to a defined subset of its digital sequencing technology patents. As a result of this settlement, all pending patent litigation between Foundation Medicine and Guardant Health will be dismissed.

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"We are pleased with the Foundation Medicine settlement agreement as it recognizes the importance of our scientific discoveries and validates the strong intellectual property rights we have built as a company," said Helmy Eltoukhy, Guardant Health Co-CEO.