BTG Sells Online Navigation Tracking Patents
London, UK, 16 August 2006: BTG plc (LSE: BGC), the medical innovations company, today announces the sale of its WebNav online navigation tracking patents to TwinTech E.U. II, Limited Liability Company. BTG will receive an immediate payment of $5 million, as a gross payment before revenue sharing and costs, plus a share of future profits earned by TwinTech E.U. II from commercialisation of these patents.
BTG launched law suits in 2004 against four parties, including Amazon.com and BarnesandNoble.com, for infringement of a patented technology that enables efficient tracking of Internet users between websites - a technology used in certain online marketing programmes. All of these cases have been settled.
Louise Makin, BTG's Chief Executive Officer, said:
"Having settled the existing WebNav litigations, we are pleased to sell the patents in return for an immediate gain with potential upside from future licensing deals. TwinTech E.U. II has the skills and resources to create additional value from these important patents."
"This disposal follows the sale of the Teleshuttle patents to another Delaware company earlier this year and underlines the excellent progress we are making in realising value from our physical sciences assets, allowing us to focus our resources on our growing life sciences business."
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Ben Atwell / Anna Keeble
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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 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