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BTG LICENSES TWO-PART HIP CUP PATENTS TO WRIGHT MEDICAL TECHNOLOGY, INC.
BTG, the global technology commercialisation company, today announced it has successfully licensed the two-part hip cup patents for a license fee and future royalty payments to Wright Medical Technology, Inc., a world wide designer, manufacturer and distributor of orthopaedic implants and instruments. The two part hip cup technology is a prosthetic hip joint replacement that allows more accurate positioning which helps prevent hip joint dislocation. The US market for hip prostheses is thought to be worth in excess of $900 million and this invention is a key component in approximately 90% of the products in this market. BTG acquired the patents to this invention in 1982, from the inventor John Church, a Consultant Orthopaedic Surgeon from Wycombe General hospital in the UK. BTG has been licensing this portfolio of patents together with patents owned by Depuy Orthopaedics Inc (a Johnson & Johnson Company). BTG has exclusive commercialisation rights for both of these patent portfolios and, to date, licensing agreements have been signed with most of the leading orthopaedic companies including; Stryker Howmedica Osteonics, Smith & Nephew and Biomet. These license agreements have, to date, earned a total revenue of over US$20 million. Commenting on the licensing agreement with Wright Medical Technology, Inc., Anthony V Lando, BTG’s Chief Operating Officer said: “John Church’s invention for two-part hip cups is a fundamental concept which the industry has fully adopted. This latest licence demonstrates BTG’s ability to exploit its intellectual property assets and generate revenues from our portfolio. We will continue to actively seek further licences for this innovative technology with other players in the medical devices world.”
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