31st Mar 2006 07:20
BTG PLC31 March 2006 BTG SELLS TELESHUTTLE PATENT RIGHTS TO TWINTECH E.U. London, UK, 31 March 2006: BTG plc (LSE: BGC), the medical innovations company,today announces the sale of its rights to Teleshuttle Technologies LLC'sweb-enabled software updating, active desktop and offline browsing patents toTwinTech E.U., LLC, a US company, based in Delaware. BTG will receive animmediate down payment of $35 million, the gross payment before revenue sharingand costs, plus a share of future profits earned by TwinTech E.U. fromcommercialising these patents. BTG launched suits in 2004 against Microsoft and Apple for infringement of theTeleshuttle patents. BTG and Teleshuttle will not pursue these suits and anyfurther activity relating to them and the patents will be the responsibility ofTwinTech E.U. Louise Makin, BTG's Chief Executive Officer, said: "We're delighted with this transaction, generating a significant immediate gainwith the potential for upside from future licensing of the patents and drawing aline under the uncertainties that inevitably arise in litigation. TwinTech E.U.has the skills and resource to create value from these patents which we believeshould be licensed by a range of online retailers. This deal on the Teleshuttle patents continues the excellent progress we aremaking in realising value from our physical sciences assets in order to focusresources on our medical business." Contacts: BTG Financial Dynamics Andy Burrows, Director of Investor Relations Ben Atwell+44 (0)7990 530605 +44 (0)20 7831 3113 About BTG BTG in-licenses, develops and commercialises pharmaceuticals and other medicaltechnologies. With a substantial and growing revenue stream of royalties andmilestone payments from out-licensed products, BTG continues to strengthen itspipeline of preclinical and clinical development programmes. Active in thefields of oncology, diseases of ageing, neuroscience, drug repositioning andmedical devices, BTG works from offices in London, Philadelphia and Osakathrough a global partner network of healthcare companies and researchorganisations. For further information, visit: www.btgplc.com. About Teleshuttle Teleshuttle develops new media and business technologies and provides strategicconsulting services. Teleshuttle has multiple patent portfolios in development,and commercialises technologies both directly and through strategic partners.Current developments relate to CoTV, coactive TV, which links Web browsing withTV viewing, and to search technologies. Teleshuttle was founded by RichardReisman in the early 1990s as an innovative online software/service provider.Teleshuttle began its partnership with BTG in 1998. For further information,visit www.teleshuttle.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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