BTG Completes Sale of RFID Patent Portfolio
London, UK, 25 September 2006: BTG plc (LSE: BGC), the medical innovations company, today announces that Zebra Technologies Corporation has exercised its option to acquire the remainder of BTG's radio frequency identification (RFID) patent portfolio for $3.8 million gross.
An additional $1.4 million is receivable in relation to the sale of these and other RFID patents on satisfaction of certain conditions.
BTG has already received $5.8 million from Zebra relating to this option and the sale of the other RFID patents in the financial year ended March 2006.
Louise Makin, Chief Executive Officer, said: "We are pleased with the sale of our remaining RFID patents to Zebra. This divestment is in line with our strategy to exit and realise value from our non-core technology areas whilst expanding and developing our pipeline of medical products."
As previously announced, BTG also earned $5.0m gross from the sale of its WebNav online tracking patents in the first half of the current financial year. Interim results for the half year ending 30 September 2006 will be published on 9 November 2006, when BTG will also present an update for analysts on its R&D pipeline.
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BTG in-licenses, develops and commercialises pharmaceuticals and other medical technologies. With a substantial and growing revenue stream of royalties and milestone payments from out-licensed products, BTG continues to strengthen its pipeline of preclinical and clinical development programmes. Active in the fields of oncology, diseases of ageing, neuroscience, drug repositioning and medical devices, BTG works from offices in London, Philadelphia and Osaka through a global partner network of healthcare companies and research organisations. For further information, visit: www.btgplc.com.Back to press releases