London, UK, 19 May 2005: BTG plc (LSE: BGC), the IP and technology commercialisation company, announces that it has reached a settlement with Zimmer Holdings, Inc. in respect of all active litigation. The settlement ends patent infringement actions in the USA and Germany relating to the two-part hip cup patents as well as cases filed by Zimmer against BTG in Germany and in State Court in Indiana.
As a result of the settlement, Zimmer will make an immediate payment resulting in gross revenues to BTG of $17.4 million. Zimmer will also pay an undisclosed royalty on future sales.
Louise Makin, BTG’s Chief Executive Officer, commented: “We are pleased to have concluded this agreement, which means we have now signed licence agreements with all of the major US orthopaedic implant manufacturers.”
BTG has exclusive commercialisation rights to the two-part hip cup patents. In the year ended 31 March 2005, gross revenues before revenue sharing were £5.4 million. Patent expiry is in 2019.
The two-part hip cup allows for more accurate positioning of prosthetic hip joint replacements, thereby potentially reducing hip joint dislocation.
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For further information contact:
BTG
Andy Burrows, Director of Investor Relations
+44 (0)20 7575 1741
Financial Dynamics
Ben Atwell/Lucy Briggs
+44 (0)20 7831 3113
About BTG
BTG creates value by investing in intellectual property and technology development, and in early stage ventures. We realise value through technology licensing, patent assertion and sale of equity investment. Through a multidisciplinary approach, we apply intellectual property and commercial expertise, together with specialist skills in science and technology, to create major product opportunities in the health and high tech sectors. BTG has commercialised important innovations, including Magnetic Resonance Imaging, Multilevel Cell Memory, Campath® (alemtuzumab), the first monoclonal antibody treatment for chronic lymphocytic leukaemia, and recombinant Factor IX blood clotting protein. BTG operates through wholly owned subsidiaries BTG International Ltd and BTG International Inc in the UK and USA, respectively. For further information about BTG, please visit www.btgplc.com.