BTG Grants QRSciences Option to Acquire NQR Patents
London, UK, 6 February 2006: BTG plc (LSE: BGC), the medical innovations company, announces that it has signed an option agreement with QRSciences Pty Limited, a wholly owned subsidiary of QRSciences Holdings Limited (QRS: ASX) (QRSHY: PK) for QRS to acquire all rights to BTG's portfolio of NQR explosives and drug detection patents.
Under the agreement, QRS will make an immediate payment to BTG of US $0.5 million and, if the option is exercised, deferred payments payable in instalments over the next 14 years plus contingent payments based on product sales.
Louise Makin, BTG's Chief Executive Officer, commented: "We are pleased to sell these patents to QRS, which we believe is in the best position to maximise revenues from these assets over the longer term by developing and selling products and licensing third parties. This agreement is in keeping with our strategy to focus on medical innovations, while realising value from our legacy physical sciences portfolio."
Andy Burrows, Director of Investor Relations
+44 (0)20 7575 1741
+44 (0)20 7831 3113
BTG acquires rights to early stage pharmaceuticals and other medical technologies from a global network of corporations, universities and research institutions. We apply resources, including finance, intellectual property and project management skills to fund and manage outsourced preclinical and clinical development programs. We then commercialise the technologies by licensing to pharmaceutical 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. BTG operates from London, Philadelphia and Osaka. For further information, visit www.btgplc.com.Back to press releases