Pacific Biosciences of California Inc.
03/06/2026 | Press release | Distributed by Public on 03/06/2026 15:06
Regulation FD Disclosure (Form 8-K)
ITEM 7.01. REGULATION FD DISCLOSURE.
On March 5, 2026, the Company entered into a binding term sheet (the "Term Sheet") with Personal Genomics of Taiwan, Inc. ("PGI") pursuant to which the Company receives a worldwide, royalty-free, non-exclusive license under U.S. Patent No. 7,767,441 and its related patent family, and a five-and-a-half-year covenant not to sue under any patents owned or controlled by PGI, and will result in the dismissal of all claims and counterclaims asserted by the Company and PGI against each other in the litigation. By amicably resolving the litigation, we believe the settlement, together with the license grant and covenant not to sue, provides value to the Company by converting potential litigation risk into defined, time-bound protection that will support the Company's growth objectives and provide operational certainty for its long-read commercial ecosystem. The covenant not to sue runs with the patents and binds PGI's successors and transferees. The settlement also provides for the release of claims for damages arising from activities occurring prior to and during the covenant term. Under the fixed payment structure, the Company will pay PGI $8,000,000 in the first quarter of 2026, and $5,000,000 in the first quarter of each of 2027, 2028 and 2029, with the payment in 2027 increasing by $1,000,000 if the Company's 2026 revenue is at least $165,000,000 and another $1,000,000 if it is at least $180,000,000.
Pacific Biosciences of California Inc. published this content on March 06, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on March 06, 2026 at 21:06 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]