Medtronic and Tandem Diabetes Care Enter Into Patent Cross-License Agreement
July 09 2020 - 9:00AM
Business Wire
Medtronic plc (NYSE:MDT) and Tandem Diabetes Care, Inc.
(NASDAQ:TNDM) today announced that they have entered into a
non-exclusive patent cross-license agreement for certain
technologies in the field of diabetes. Cross-licensing each other’s
patent portfolios enables both companies to focus on helping people
with diabetes through innovation of future products and services,
while avoiding the distraction of potential legal
disagreements.
With certain exclusions, this agreement applies to the
companies’ existing products, as well as new products for at least
the next five years, and also includes a provision not to clone one
another’s products. No payments will be exchanged as part of this
agreement and further terms were not disclosed.
About Tandem Diabetes Care,
Inc.
Tandem Diabetes Care, Inc. (www.tandemdiabetes.com) is a medical
device company dedicated to improving the lives of people with
diabetes through relentless innovation and revolutionary customer
experience. The Company takes an innovative, user-centric approach
to the design, development and commercialization of products for
people with diabetes who use insulin. Tandem’s flagship product,
the t:slim X2™ insulin pump, is capable of remote software updates
using a personal computer and features integrated continuous
glucose monitoring. Tandem is based in San Diego, California.
Tandem Diabetes Care is a registered trademark and t:slim X2 is
a trademark of Tandem Diabetes Care, Inc.
Follow Tandem Diabetes Care on Twitter @tandemdiabetes; use
#tslimX2, and $TNDM. Follow Tandem Diabetes Care on Facebook at
www.facebook.com/TandemDiabetes. Follow Tandem Diabetes Care on
LinkedIn at https://www.linkedin.com/company/tandemdiabetes.
About the Diabetes Group at
Medtronic (www.medtronicdiabetes.com)
Medtronic is working together with the global community to
change the way people manage diabetes. The company aims to
transform diabetes care by expanding access, integrating care and
improving outcomes, so people living with diabetes can enjoy
greater freedom and better health.
About Medtronic
Medtronic plc (www.medtronic.com), headquartered in Dublin,
Ireland, is among the world’s largest medical technology, services
and solutions companies – alleviating pain, restoring health and
extending life for millions of people around the world. Medtronic
employs more than 90,000 people worldwide, serving physicians,
hospitals and patients in more than 150 countries. The company is
focused on collaborating with stakeholders around the world to take
healthcare Further, Together.
Forward Looking
Statements:
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Any forward-looking statements, such as the anticipated
scope and potential benefits of the agreement, are subject to risks
and uncertainties such as those described in each company’s
respective periodic reports on file with the Securities and
Exchange Commission. Readers are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date of this release. Actual results could differ materially
from those anticipated or projected in the forward-looking
statements. The companies undertake no obligation to update or
review any forward-looking statement in this press release because
of new information, future events or other factors.
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version on businesswire.com: https://www.businesswire.com/news/home/20200709005272/en/
Pamela Reese Medtronic plc Public Relations +1-818-576-3398
Ryan Weispfenning Medtronic plc Investor Relations
+1-763-505-4626
Steve Sabicer Tandem Media Relations +1-714-907-6264
Susan Morrison Tandem Investor Relations +1-858-366-6900
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