AorTech reaches settlement in Utah litigation

Biomaterials and medical device intellectual property company AorTech International announced the end of its litigation with the Foldax defendants on Monday.

The AIM-traded firm had said that it had reached a settlement in principle on 20 November, and had requested the Utah court to stay all proceedings and deadlines.

In Monday’s update, AorTech said both the Foldax defendants and itself had “amicably” resolved their dispute, and the terms of settlement had been incorporated into a confidential settlement agreement.

“I am pleased to announce this settlement agreement which brings to an end the ongoing dispute,” said AorTech chairman Bill Brown.

“We now look forward to focusing on developing AorTech's IP assets.”