IntraLase & Escalon on better terms

IntraLase has entered into an agreement with Escalon Medical to settle all outstanding disputes and litigation between the parties.

Under the terms of the agreement, IntraLase will make a payment of $9.6 million to Escalon, in exchange for all pending litigations to be dropped. Full ownership of all patents and intellectual property formerly licensed from Escalon will be obtained by IntraLase and all IntraLase obligations under the parties' license agreement will terminate. The payment will also cover all outstanding royalties owed or alleged to be owed by IntraLase to Escalon.