Aerocrine, AB announces positive settlement of $1.320MM USD in Aperion bankruptcy proceeds.
SOLNA, Sweden- 30 April, 2012-Aerocrine AB (NASDAQ OMX Nordic Exchange: AERO) today announced that after several years of litigation, the bankruptcy court overseeing the claims to the Aperion estate has authorized the trustee to pay Aerocrine $1.3 million dollars in a compromise against claims.
The United States Bankruptcy Court, Northern District of California, San Francisco Division, presided over by the Honorable Judge Dennis Montali, issued an order to authorize the compromise negotiated with the trustee of the estate to resolve Aerocrine’s claims for patent infringement damages and to authorize the trustee to pay Aerocrine $1,320,000. This money will be available to Aerocrine upon the imminent transfer of funds to Aerocrine accounts. No further proceedings are required.
“We are pleased with the outcome of this ruling. Our attorneys have provided much evidence over the years, and this type of settlement is beneficial to all,” said Mats Carlson, Chief Technology Officer, Aerocrine, AB.
As a reminder, in addition to this monetary settlement, Aerocrine, AB purchased key Intellectual Property from the estate several years ago. “The IP has proven to be quite good for us,” said Mr. Carlson. “We have also replaced most of the Aperion devices with our own monitors over the past two years and now we receive an additional $1.3MM for our cash position -- this is good news,” said Michael Colerus, CFO at Aerocrine, AB.
For more information, contact:
Scott Myers, CEO, Aerocrine AB, Phone: +46 768 788 379
Mats Carlson , Chief Technology Officer, Aerocrine, AB +46 8 629 07 83
Michael Colerus, CFO, Aerocrine AB, Phone +46 8 629 07 85
About Aerocrine
Aerocrine AB is a medical technology company focused on the improved management and care of patients with inflammatory airway diseases. As the pioneer and leader in the technology to monitor and manage airway inflammation, Aerocrine markets NIOX® Flex and NIOX MINO®. Both products enable fast and reliable management of airway inflammation and may therefore play a critical role in more effective diagnosis, treatment and follow-up of patients with inflammatory airway diseases such as asthma. Aerocrine is based in Sweden with subsidiaries in the US, Germany and the UK. Aerocrine shares were listed on the Stockholm Stock Exchange on 15 June 2007. Aerocrine discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08:00 a.m. on April 30, 2012.