aap Implantate AG signs a license deal with BiosCompass, Inc. for the IP rights of the non-core product Adcon®
(Thomson Reuters ONE) -
aap Implantate AG /
aap Implantate AG signs a license deal with BiosCompass, Inc. for the IP rights
of the non-core product Adcon®
. Processed and transmitted by Thomson Reuters ONE.
The issuer is solely responsible for the content of this announcement.
aap Implantate AG (XETRA: AAQ.DE) a global medical device company focused on
innovative trauma products and biomaterials for the orthopaedic market today
announced that EMCM B.V., a 100% subsidiary of aap Implantate AG, and the US-
based BiosCompass, Inc. signed an exclusive license deal. BiosCompass, Inc. is a
specialized company which is dedicated to surgical adhesion prevention and is
based in Rochester, Minnesota, USA.
The exclusive license relates to all intellectual property rights (IP) of its
non-core product Adcon® and is valid worldwide. This contract is another step in
the strategy of aap to focus on trauma and selected biomaterials. This strategy
realizes value for shareholders and simplifies the business by enabling aap to
focus on priority products in priority markets like LOQTEQ® in the USA and EU as
well the BRICS and SMIT countries.
With the signing, aap will receive a one-time license fee of EUR 1.7 million.
The net cash proceeds will be used to support the core business and to further
reduce the interest bearing debt. There will also be a reduction of the
intangible assets of the company. The transaction is done at book value, thus
having no effect on the net profit.
Bioscompass, Inc. will continue to source the product from EMCM in the
Netherlands. Adcon®Gel is a biocompatible, resorbable gel that provides a
physical barrier to inter-tissue adhesions.
This release contains forward-looking statements based on current experience,
estimates and projections of the management board and currently available
information. They are not guarantees of future performance. Various known and
unknown risks, uncertainties and other factors could lead to material
differences between the actual future results, financial situation, development
or performance of the company and the estimates given here. Many factors could
cause the actual results, performance or achievements of aap to be materially
different from those that may be expressed or implied by such statements. These
factors include those discussed in aap's public reports. Forward-looking
statements therefore speak only as of the date they are made. aap does not
assume any obligation to update the forward-looking statements contained in this
release or to conform them to future events or developments.
______________________________________________________
aap Implantate AG (ISIN DE0005066609)
- Prime Standard/Regulated Market - All German stock markets -
aap is a global medical device company headquartered in Berlin, Germany that
develops, manufactures and markets innovative biomaterials and implants that are
used in orthopedic procedures. The Company's products, which include a full line
of plating systems, cannulated screws and bone cement products, are primarily
used in the orthopedic specialty areas of trauma and spine repair. The Company's
products are sold through its direct sales force, distribution partners and
license agreements with OEM partners. aap's stock is listed in the Prime
Standard segment of the Frankfurt Stock Exchange. For more information, please
visit www.aap.de, or download the Company's investor relations app from the
Apple's App Store or Google Play.
For inquiries please contact:
aap Implantate AG, Marc Heydrich, Investor Relations, Lorenzweg 5, 12099 Berlin,
Germany
Tel.: +49 30 7501 9-134, fax: +49 30 7501 9-290, m.heydrich(at)aap.de
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: aap Implantate AG via Thomson Reuters ONE
[HUG#1687053]
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Datum: 21.03.2013 - 11:48 Uhr
Sprache: Deutsch
News-ID 241776
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contact information:
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