Patent Infringement Settlement

RNS Number : 0517S

Medaphor Group PLC

16 December 2016

 

MedaPhor Group plc

("the Group" the "Company")

Patent Infringement Settlement

Further to the statement made by the Company on 27 April 2016 (RNS No. 4638W: Notice of Patent Infringement Proceedings), the Group subsidiaries, MedaPhor Limited and MedaPhor North America Inc. (collectively "MedaPhor"), announce that MedaPhor and SonoSim Inc. and The Regents of the University of California have reached an agreement in principle on a patent license and patent infringement settlement.  As a result, the parties will proceed to formalize their agreement in writing, following which the lawsuit between the parties will be dismissed. 

The settlement will be satisfied from the existing cash resources of the Group. The Company will provide a further update on the settlement once all documents are finalised.

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulations which came into effect on 3 July 2016.

Enquiries:

MedaPhor Group plc	www.medaphor.com
Stuart Gall, CEO	Tel: [phone]
Cenkos Securities	Tel:  [phone]
Bobbie Hilliam (Nominated Adviser)
Julian Morse (Corporate Broking)
Walbrook PR	Tel: [phone] or [e-mail]
Paul McManus / Anna Dunphy	Mob: [phone] / Mob: [phone]

 

END

 

 

MSCGGGPPPUPQUMQ