Twist Bioscience Corporation (TWST) Confirms Settlement with Agilent (A)

Twist Bioscience Corporation (NASDAQ: TWST) announced it has reached a settlement agreement with Agilent Technologies (NYSE: A) to resolve all claims and counterclaims in the trade secret litigation filed by Agilent on February 3, 2016.

Under the terms of the agreement, which is legally binding, Twist Bioscience will pay Agilent $22.5 million. The settlement agreement contains no admission of liability or wrongdoing and includes a full release of the claims made against Twist Bioscience, Emily Leproust, Siyuan Chen and Solange Glaize. Each party will bear their own costs and fees. The case is expected to be formally dismissed this month.

“Agilent launched an all-out legal assault on Twist and in the end, we not only survived, we thrived through the attack,” said Emily M. Leproust, Ph.D., CEO and co-founder of Twist Bioscience. “We are pleased with the outcome and believe this settlement removes both the uncertainty and legal expense associated with any trial, and is in the best interest of all of our stakeholders.”

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