Contrast media firm Epix Medical has granted a worldwide, non-exclusive, royalty-bearing license to Bracco Imaging. The license covers use of certain Epix patents in connection with Bracco products, including the liver and central nervous system MRI contrast agent MultiHance, according to Cambridge, MA-based Epix.
The MRI contrast patents, including European patent 222886 and US patents 4899755 and 4880008, are owned by Massachusetts General Hospital in Boston and licensed exclusively to Epix. As a result of the agreement, Epix will receive $10 million in upfront payments comprised of a license fee, royalties on past sales, pre-payment of future royalties, and a contingent license fee based upon marketing approval of MultiHance in the US; MultiHance is currently available in Europe. Bracco is also withdrawing its oppositions to the patents in the European and Japanese Patent Offices, and the parties have settled ongoing litigation regarding the patents in Europe, according to Epix.
By AuntMinnie.com staff writersSeptember 25, 2001
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