MiMedx Group Inks $25M License Deal With Undisclosed Wound Care Competitor To Settle Allegations Of Infringement Of MiMedx's Patents
Benzinga Newsdesk 2 days ago
News
MiMedx Group, Inc. (Nasdaq: MDXG) ("MIMEDX" or the "Company") today announced that it has entered into a license agreement with a wound care competitor that resolves allegations of infringement of
MiMedx Group, Inc. (Nasdaq: MDXG) ("MIMEDX" or the "Company") today announced that it has entered into a license agreement with a wound care competitor that resolves allegations of infringement of MIMEDX’s patents.
Under the terms of the agreement:
- The licensee will pay MIMEDX a total of $25 million in five equal installments of $5 million.
- The first installment has been received, and the four remaining installments will be paid annually on the anniversary of the signing date.
- MIMEDX has granted the licensee a non-exclusive license to the covered patents.