BTG Continues Physical Sciences Divestment Programme Granting Two Licenses to Technology Patents Worth Up to $46m
London, UK 13 April 2007: BTG plc (LSE: BGC), the medical innovations company, today announces that it has granted licences to patents relating to storage capacity in semiconductor chips to two undisclosed parties for total gross payments of $46m before revenue sharing and costs.
Of the payments due, $17m is payable this financial year, with a further $29m ($2m of which being subject to BTG satisfying certain conditions) payable in installments by December 2009. One of the licences struck today also includes an option which the party may exercise for an additional gross payment of $20m.
In the last two years BTG has also announced sales or licences of several physical sciences technologies, including its Teleshuttle, WebNav, NQR and RFID patent portfolios.
Louise Makin, BTG’s Chief Executive Officer, said: “We have made very good progress in generating revenues from our remaining non-core physical science assets having secured almost $100m of gross proceeds since we commenced our disposal programme. We expect to complete further licence agreements for these and other technology patents as we continue to focus our development pipeline on our growing portfolio of life sciences programmes.”
For further information contact
Christine Soden, Chief Financial Officer
+44 (0)20 7575 1591; Mobile: +44 7710 484199
Ben Atwell/Anna Keeble
+44 (0)20 7831 3113
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 its offices in London, Philadelphia and Osaka with a global partner network of healthcare companies and research organisations. For further information, visit: www.btgplc.com.Back to press releases