Pursuant to the settlement and release agreement among Alphatec and DePuy & Biedermann, Alphatec has obtained a license to intellectual property rights owned by Biedermann and licensed to DePuy. The agreement dismisses the lawsuit between Alphatec and the above-mentioned parties and grants Alphatec the right to continue to manufacture, market and sell its Zodiac and Solanas products.
Terms of the agreements include a one-time payment of $11 million and an ongoing royalty payable upon future net sales of licensed products.
Dirk Kuyper, Alphatec’s president and CEO, said: “We are pleased with the resolution of this long-standing legal matter as it accelerates our ability to bring to market OsseoScrew, which is our pedicle screw technology designed for osteoporotic and osteopenic bone.”