MedaPhor Limited and MedaPhor North America Inc. has announced today that MedaPhor and SonoSim Inc. and The Regents of the University of California have reached an agreement in principle on a patent licence and patent infringement settlement (MedaPhor, 2016). As a result, the parties will proceed to formalise their agreement in writing, following which the lawsuit between the parties will be dismissed.

The settlement will be satisfied from the existing cash resources of the MedaPhor Group. MedaPhor will provide a further update on the settlement once all documents are finalised.

MedaPhor’s announcement contains inside information which is disclosed in accordance with the Market Abuse Regulations which came into effect on July 3rd 2016.