Marathon Patent Group's Wholly-Owned Subsidiary, TLIF, LLC, Enters Into Settlement and License Agreement With Biomet, Inc.
LOS ANGELES, CA -- (Marketwired) -- 08/13/15 -- Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon"), a patent licensing company, announced today 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.
About Marathon Patent Group
Marathon is a patent acquisition and monetization company. The Company acquires patents from a wide-range of patent holders from individual inventors to Fortune 500 companies. Marathon's strategy of acquiring patents that cover a wide-range of subject matter allows the Company to achieve diversity within its patent asset portfolio. Marathon generates revenue with its diversified portfolio through actively managed concurrent patent rights enforcement campaigns. This approach is expected to result in a long-term, diversified revenue stream. To learn more about Marathon Patent Group, visit www.marathonpg.com.
Safe Harbor Statement
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Marathon Patent Group
Source: Marathon Patent Group
Released August 13, 2015