AngioDynamics Announces Settlement of All Patent Litigation with C.R. Bard, Inc.

AngioDynamics, Inc. (NASDAQ: ANGO), a leading and transformative medical technology company focused on restoring healthy blood flow in the body’s vascular system, expanding cancer treatment options and improving patient quality of life, today announced that it has entered into a settlement agreement with Becton, Dickinson and Company (“BD”) to resolve all outstanding patent litigation with C.R. Bard, Inc., an affiliate of BD.

Under the terms of the settlement, BD will grant a license to AngioDynamics under certain of BD’s port patents and AngioDynamics will grant BD a license under certain of AngioDynamics’ catheter patents. AngioDynamics will make a one-time lump sum payment to BD in the amount of $7 million, $3 million of which will be paid within five days and the balance of which will be payable of installments over the next 12 months.

AngioDynamics will also make six minimum annual payments to BD of $2.5 million through February 2029, and potential additional payments if six percent (6%) of annual net sales of AngioDynamics’ port products exceed the minimum payment. The parties will participate in the pending appeal before the Federal Circuit of the case titled C.R. Bard, Inc. and Bard Peripheral Vascular, Inc. v. AngioDynamics, Inc. (C.A. 15-00218–JFB; and CAFC appeal No. 23-2056) and a contingent payment of $3 million will be due from AngioDynamics to BD if the Federal Circuit reverses or vacates the District Court’s findings of invalidity with respect to the patent claims at issue the case. The agreement contains mutual covenants not to sue and releases. Neither party admitted any liability in connection with the settlement agreement.

The agreement concludes a multi-year patent dispute between the parties.

“We are pleased to bring this long-standing litigation to a successful conclusion that will reduce our ongoing legal spend and lift a more than ten-year distraction to the Company,” commented Jim Clemmer, President and Chief Executive Officer of AngioDynamics, Inc. “The settlement essentially allows us to spread what would have been two years of future legal fees over the course of six years. Today’s settlement also provides us with additional clarity and certainty and enables our team to remain focused on our top priorities – driving innovation and profitable growth in attractive end markets and delivering value to our shareholders.”