Medtronic Settles Patent Dispute With Cytomedix

Cytomedix announced that Medtronic has agreed to settle a patent dispute and has been granted a license for its key "Knighton" patent (U.S. Patent No. 5,165,938 and corresponding patents in other countries) for all applications of its autologous platelet releasate therapy.

The company indicated that it expects to receive significant revenues over the life of the patent as a result of this licensing agreement. This agreement represents settlement of a suit that Cytomedix had filed against Medtronic, which will now be dismissed.

Cytomedix also announced that it is continuing to conduct its own multicenter, prospective, randomized, blinded and controlled clinical trial on diabetic foot ulcers utilizing its autologous platelet releasate therapy.