19th May 2005 07:00
BTG PLC19 May 2005 BTG settles two-part hip cup litigation London, UK, 19 May 2005: BTG plc (LSE: BGC), the IP and technologycommercialisation company, announces that it has reached a settlement withZimmer Holdings, Inc. in respect of all active litigation. The settlement endspatent infringement actions in the USA and Germany relating to the two-part hipcup patents as well as cases filed by Zimmer against BTG in Germany and in StateCourt in Indiana. As a result of the settlement, Zimmer will make an immediate payment resultingin gross revenues to BTG of $17.4 million. Zimmer will also pay an undisclosedroyalty on future sales. Louise Makin, BTG's Chief Executive Officer, commented: "We are pleased to haveconcluded this agreement, which means we have now signed licence agreements withall of the major US orthopaedic implant manufacturers." BTG has exclusive commercialisation rights to the two-part hip cup patents. Inthe year ended 31 March 2005, gross revenues before revenue sharing were £5.4million. Patent expiry is in 2019. The two-part hip cup allows for more accurate positioning of prosthetic hipjoint replacements, thereby potentially reducing hip joint dislocation. - Ends - For further information contact: BTG Financial DynamicsAndy Burrows, Director of Investor Relations Ben Atwell/Lucy Briggs+44 (0)20 7575 1741 +44 (0)20 7831 3113 About BTG BTG creates value by investing in intellectual property and technologydevelopment, and in early stage ventures. We realise value through technologylicensing, patent assertion and sale of equity investment. Through amultidisciplinary approach, we apply intellectual property and commercialexpertise, together with specialist skills in science and technology, to createmajor product opportunities in the health and high tech sectors. BTG hascommercialised important innovations, including Magnetic Resonance Imaging,Multilevel Cell Memory, Campath(R) (alemtuzumab), the first monoclonal antibodytreatment for chronic lymphocytic leukaemia, and recombinant Factor IX bloodclotting protein. BTG operates through wholly owned subsidiaries BTGInternational Ltd and BTG International Inc in the UK and USA, respectively. Forfurther information about BTG, please visit www.btgplc.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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