Brief: Angiodynamics Inc - On March 31, Co And Bd Entered Into A Settlement Agreement To Resolve Certain Litigation

AngioDynamics

01/04/2024 23:28

April 1 (Reuters) - AngioDynamics Inc  ANGO.O :
    * ANGIODYNAMICS INC - ON MARCH 31, CO AND BD ENTERED INTO A
SETTLEMENT AGREEMENT TO RESOLVE CERTAIN LITIGATION
    * ANGIODYNAMICS INC - UNDER TERMS OF SETTLEMENT AGREEMENT,
BD WILL
GRANT A LICENSE TO ANGIODYNAMICS UNDER CERTAIN OF BD'S PORT
PATENTS
    * ANGIODYNAMICS INC -  UNDER TERMS OF SETTLEMENT AGREEMENT,
ANGIODYNAMICS WILL GRANT BD A LICENSE UNDER CERTAIN OF
ANGIODYNAMICS' CATHETER PATENTS
    * ANGIODYNAMICS INC - WILL MAKE A ONE-TIME LUMP SUM PAYMENT
TO BD
IN AMOUNT OF $7 MILLION
    * ANGIODYNAMICS INC - WILL ALSO MAKE SIX MINIMUM ANNUAL
PAYMENTS
TO BD OF $2.5 MILLION THROUGH FEBRUARY, 2029
    * ANGIODYNAMICS INC - WILL MAKE POTENTIAL ADDITIONAL
PAYMENTS IF
6% OF ANNUAL NET SALES OF ANGIODYNAMICS' PORT PRODUCTS EXCEED
MINIMUM PAYMENT

Source text for Eikon:  ID:n0001140361-24-016977 
Further company coverage:  ANGO.O 

 ((Reuters.Briefs@thomsonreuters.com;))