AngioDynamics settles patent litigation with BD; $7M upfront, $2.5M annual minimums

ANGIODYNAMICS INC

One-time payment of $7M to BD, with $3M due within 5 business days and remainder over 12 months.
Minimum annual payments of $2.5M for six years through Feb 2029; additional payments based on 6% of port product net sales.
Contingent $3M payment due if Federal Circuit reverses invalidity findings in pending appeal (CAFC No. 23-2056).
Cross-licenses granted: BD licenses certain port patents to AngioDynamics; AngioDynamics licenses certain catheter patents.
Mutual covenants not to sue and releases; no admission of misconduct or liability.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ANGIODYNAMICS INC entered into Settlement Agreement with Becton, Dickinson and Company, C.R. Bard, Inc. and Bard Peripheral Vascular Inc. valued at one-time lump sum payment to BD in the amount of $7 million, $3 million of which will be payable wit (effective 2024-03-31).

Action: entry
Agreement: settlement
Counterparty: Becton, Dickinson and Company, C.R. Bard, Inc. and Bard Peripheral Vascular Inc.
Value: one-time lump sum payment to BD in the amount of $7 million, $3 million of which will be payable wit
Effective: 2024-03-31

Exact text from the filing

On March 31, 2024, AngioDynamics and BD entered into a Settlement Agreement (the “Settlement Agreement”) to resolve the Actions.

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Source: SEC EDGAR

accession 0001140361-24-016977

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