Conformis Announces Settlement of Patent Dispute
May 28 2020 - 7:30AM
Conformis, Inc. (NASDAQ:CFMS) announced today that it has entered
into a settlement and license agreement with Zimmer Biomet
Holdings, Inc., Zimmer, Inc., Zimmer US, Inc., and Biomet
Manufacturing, LLC (together, “Zimmer Biomet”) that resolves all
patent disputes between the companies.
“We are glad to have reached a mutually
productive settlement of all current patent litigation with Zimmer
Biomet and are pleased to have the company become a licensee,” said
Mark Augusti, President and Chief Executive Officer. “Through this
settlement, we have once again monetized our patient-specific
instrument patents and steadfastly protected our core business of
patient-specific implants.”
About Conformis, Inc.
Conformis is a medical technology company
that uses its proprietary iFit Image-to-Implant technology platform
to develop, manufacture, and sell joint replacement implants and
instruments that are individually sized and shaped, which we refer
to as personalized, individualized, or sometimes as customized, to
fit each patient’s unique anatomy. Conformis offers a broad line of
sterile, personalized knee and hip implants and single-use
instruments delivered to hospitals. In clinical studies, the
Conformis iTotal CR knee replacement system demonstrated
superior clinical outcomes, including better function and greater
patient satisfaction, compared to traditional, off-the-shelf
implants. Conformis owns or exclusively in-licenses issued patents
and pending patent applications that cover personalized implants
and patient-specific instrumentation for all major joints.
For more information,
visit www.conformis.com. To receive future releases in e-mail
alerts, sign up at ir.conformis.com.
CONTACT:
Investor Contact
ir@conformis.com
+1 (781) 374-5598
Conformis (NASDAQ:CFMS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Conformis (NASDAQ:CFMS)
Historical Stock Chart
From Apr 2023 to Apr 2024