OrthoClear agrees to Align
This article was originally published in The Gray Sheet
Executive Summary
Align Technology and OrthoClear agree to a U.S. International Trade Commission exclusion order which prevents OrthoClear from importing its dental aligner products into the U.S. Additionally, OrthoClear will transfer all intellectual property rights for treatment of malocclusion. Align will pay $10 mil. to OrthoClear immediately and an additional $10 mil. if OrthoClear shareholders approve further restrictions. Former Align CEO and co-founder Muhammad Chishti left the company in March 2002 to start OrthoClear with former Align personnel. A 2005 court order barred OrthoClear from recruiting sales reps from Align (1"The Gray Sheet" March 7, 2005, p. 32)...