Q-Med reached settlement in US lawsuit

Q-Med reached settlement in US lawsuit On September 28, 1999, Biomatrix, Inc. ("Biomatrix") and certain of its affiliates, and Bengt Ågerup, Q-Med AB ("Q-Med"), and certain affiliates of Q-Med reached a settlement (the "Settlement") of a lawsuit (the "Lawsuit") that was commenced by Biomatrix in the United State District Court for the District of New Jersey on May 3, 1999. The Settlement, in which none of the parties to the Lawsuit admitted any liability, included the grant of an exclusive, world-wide, fully paid-up and royalty-free license for certain technology from Q-Med to Biomatrix. The technology subject to the License Agreement is unrelated to the technology underlying Q-Med's Restylane product (U.S. Patent No. 5,827,937 and its foreign counterparts). Q-Med also agreed to pay Biomatrix a one-time payment of $100,000 and a 6% royalty on Q-Med's sales of certain products in the United States up to a maximum of $5.0 million. As part of the Settlement, the Lawsuit was dismissed, subject to being recommenced in the event of a material breach by Q-Med of the agreements relating to the Settlement. Uppsala, Sweden October 18, 1999 Per Olof Wallström President and Chief Executive Officer Queries should be addressed to Per-Olof Wallström, President and Chief Executive Officer, on +46 18 474 90 00 or +46 70 974 90 70. Med AB (publ), Seminariegatan 21, SE-752 28 Uppsala, Sweden. Tel: +46(0)18-474 90 00. Fax: +46(0)18-474 90 01. Corporate identity number 556258-6882. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/10/18/19991018BIT00390/bit0001.doc http://www.bit.se/bitonline/1999/10/18/19991018BIT00390/bit0002.pdf