Marathon Patent Group (NASDAQ: MARA) announced that its wholly-owned subsidiary, TLIF, LLC (“TLIF”), has entered into a settlement and license agreement with Biomet, Inc. The consideration to be paid by Biomet to TLIF and all other terms of the license agreement are confidential.
The TLIF portfolio consists of patents which relate to implants and prosthesis with specific claims covering placement and insertion of spinal discs into a human spinal column. Patent claims also address the components, makeup, and content of spinal discs. Additional patents and associated claims cover intervertebral implants for insertion between two vertebral bodies of a spinal column and implantable prosthetic elements for implanting on bone facing surfaces. Exemplary patents in this portfolio include U.S. Patents 5,824,094, 6,143,032, and 6,592,624 with additional foreign patent grants providing International coverage.
