16 Dec 2016 07:24
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: +44 (0)29 2075 6534 |
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Cenkos Securities | Tel: +44 (0)20 7397 8900 |
Bobbie Hilliam (Nominated Adviser) |
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Julian Morse (Corporate Broking) |
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Walbrook PR | Tel: +44 (0)20 7933 8780 or medaphor@walbrookpr.com |
Paul McManus / Anna Dunphy | Mob: +44 (0)7980 541 893 / Mob: +44 (0)7876 741 001 |