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Confirmis Settles Patent Dispute With Smith & Nephew; To Receive $10.5 Mln


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Confirmis Settles Patent Dispute With Smith & Nephew; To Receive $10.5 Mln


(RTTNews.com) - Medical technology company Conformis, Inc. ( CFMS ) said it has entered into a settlement and license agreement with Smith & Nephew (SNN, SN.L) that resolves all patent disputes between the companies.

Pursuant to the agreement, Smith & Nephew is required to pay $10.5 million to Conformis, and the parties have entered into a limited patent cross-license.

"We are very pleased to announce the complete settlement of the various patent proceedings we have with Smith & Nephew. Through this settlement, we have once again monetized our patient-specific instrument patents and steadfastly protected our core business of patient-specific implants," said Mark Augusti, Conformis' President and Chief Executive Officer.


Read the original article on RTTNews (http://www.rttnews.com/2935469/confirmis-settles-patent-dispute-with-smith-nephew-to-receive-10-5-mln.aspx)


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This article appears in: World Markets , Stocks , Economy , Technology
Referenced Symbols: CFMS ,



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