Glaukos ($GKOS) has settled a patent infringement spat with Transcend Medical. Glaukos will not sue Transcend for patent infringement in connection with its CyPass Micro-Stent. In return, Transcend will not challenge any of Glaukos' patents and will make quarterly royalty payments of 1% of net sales of CyPass until April 2022. The maximum total payment will be $6 million. "We believe this settlement provides an efficient and reasonable solution to this patent dispute," said Glaukos CEO Thomas Burns in a statement. "It allows us to move forward and focus our full attention and resources on executing our growth strategy to transform glaucoma therapy with a family of micro-scale injectable therapies that can be used individually or in combination to address the full range of glaucoma disease states and progression. More