MAKO Surgical Corp. and Stanmore Implants Worldwide Ltd. Announce MAKO's Purchase of Stanmore Sculptor Robotic Guidance Arm
April 16 2013 - 8:04AM
MAKO Surgical Corp. (Nasdaq:MAKO) and Stanmore Implants Worldwide
Ltd. today announced that MAKO has agreed to settle all patent
infringement actions and acquire certain assets of Stanmore related
to its Sculptor Robotic Guidance Arm (RGA) business.
On March 19, 2013, MAKO filed complaints against Stanmore with
the U.S. International Trade Commission and the U.S. District
Courts of the Northern District of California and the District of
Massachusetts collectively alleging infringement of MAKO
intellectual property by the Sculptor RGA.
Under the confidential settlement and asset purchase agreements
between the parties, in exchange for a cash payment to Stanmore,
MAKO will withdraw all legal actions and receive Stanmore's robotic
business assets and intellectual property, as well as Stanmore's
agreement to withdraw from robotics.
"Stanmore is pleased to have reached closure in this matter,"
said Michael R. Mainelli, Jr., President and Chief Executive
Officer of Stanmore.
"This agreement both affirms and improves MAKO's intellectual
property position in robotically assisted orthopedic surgery," said
Maurice R. Ferré, M.D., President and Chief Executive Officer of
MAKO. "Moreover, we are enthused about the possibility of
partnering with Stanmore on potential future projects."
About MAKO Surgical Corp.
MAKO Surgical Corp. is a medical device company that markets its
RIO® Robotic-Arm Interactive Orthopedic system, with specific
applications for partial knee resurfacing and total hip
replacement, and proprietary RESTORIS® Family of Implants for
orthopedic procedures called MAKOplasty®. The RIO is a
surgeon-interactive tactile surgical platform that incorporates a
robotic arm and patient-specific visualization technology, which
enables accurate, consistently reproducible bone resection for
accurate insertion and alignment of RESTORIS knee and hip implants.
The MAKOplasty solution incorporates technologies enabled by an
intellectual property portfolio including more than 300 U.S. and
foreign, owned and licensed, patents and patent applications.
Additional information can be found at www.makosurgical.com.
About Stanmore Implants
Stanmore Implants is a commercial-stage orthopaedic implant
company focused on providing differentiated technologies designed
to provide solutions for several important, yet underserved market
segments. Stanmore's implant design service alongside its portfolio
of orthopaedic implants draws on over 60 years' experience in
providing some of the world's most successful implants in Extreme
Orthopedics. Stanmore is backed by leading investors including
Abingworth, Imperial Innovations and Ivy Capital and intends to
seek like-minded co-investors in 2013 to further support the
commercialisation and growth opportunities offered by its unique
technologies and market positioning.
"MAKOplasty®," "RESTORIS®," "RIO®," as well as the "MAKO" logo,
whether standing alone or in connection with the words "MAKO
Surgical Corp." are trademarks of MAKO Surgical Corp.
CONTACT: MAKO Surgical Corp.
954-628-1706
investorrelations@makosurgical.com
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