Conformis, Inc. announced this week that it had entered into a settlement and license agreement with Smith & Nephew that resolves all patent disputes between the two companies. Conformis is a medical technology company that uses its proprietary iFit Image-to-Implant technology platform to develop, manufacture and sell joint replacement implants that fit each patient’s unique anatomy.
The company was represented by San Francisco-based IP firm Keker Van Nest & Peters, which secured $10.5 million for non-exclusive license to patient-specific instrument patents for use with off-the-shelf knee implants.
“We are very pleased to announce the complete settlement of the various patent proceedings we have with Smith & Nephew. Through this settlement, we have once again monetized our patient-specific instrument patents and steadfastly protected our core business of patient-specific implants,” said Mark Augusti, Conformis’ President and Chief Executive Officer.
In August, Conformis announced the completion of the first two Conformis Hip System implants. The Conformis Hip System is the first ever 3D designed primary total hip replacement system.