Cytomedix to receive payments from SafeBlood Technology in settlement of patent dispute

By Angela McDaniels

Seattle, Oct. 14 - Cytomedix, Inc. said SafeBlood Technologies has agreed to make payments to settle a patent dispute over use of Cytomedix's platelet-derived therapies for treating wounds and other damaged tissue.

Cytomedix, based in Rockville, Md., had filed a suit against SafeBlood which included claims for infringement of its Knighton patent related to the use of platelet releasates for the healing of tissue.

Under the terms of the settlement agreement, Cytomedix has granted a license to Little Rock, Ark.-based SafeBlood to use the Knighton patent in SafeBlood's products and services.

SafeBlood agreed to pay an undisclosed upfront payment, spread over three years, and 8% to 9% of future gross sales of currently licensed products and services.

Biotechnology companies Cytomedix and SafeBlood develop procedures and products used in the treatment of wounds.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.