6th Feb 2006 07:00
BTG PLC06 February 2006 BTG Grants QRSciences Option to Acquire NQR Patents London, UK, 6 February 2006: BTG plc (LSE: BGC), the medical innovationscompany, announces that it has signed an option agreement with QRSciences PtyLimited, a wholly owned subsidiary of QRSciences Holdings Limited (QRS: ASX)(QRSHY: PK) for QRS to acquire all rights to BTG's portfolio of NQR explosivesand drug detection patents. Under the agreement, QRS will make an immediate payment to BTG of US $0.5million and, if the option is exercised, deferred payments payable ininstalments over the next 14 years plus contingent payments based on productsales. Louise Makin, BTG's Chief Executive Officer, commented: "We are pleased to sellthese patents to QRS, which we believe is in the best position to maximiserevenues from these assets over the longer term by developing and sellingproducts and licensing third parties. This agreement is in keeping with ourstrategy to focus on medical innovations, while realising value from our legacyphysical sciences portfolio." CONTACTS BTGAndy Burrows, Director of Investor Relations+44 (0)20 7575 1741 Financial DynamicsBen Atwell+44 (0)20 7831 3113 About BTG BTG acquires rights to early stage pharmaceuticals and other medicaltechnologies from a global network of corporations, universities and researchinstitutions. We apply resources, including finance, intellectual property andproject management skills to fund and manage outsourced preclinical and clinicaldevelopment programs. We then commercialise the technologies by licensing topharmaceutical or device companies, or by creating companies to exploit them.Our pipeline comprises around 50 assets at varying stages of development,contributing to an increasing range of products marketed by our licensees. BTGoperates from London, Philadelphia and Osaka. For further information, visitwww.btgplc.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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