KFx Medical Receives $35 Million Payment From Arthrex
SAN DIEGO--(BUSINESS WIRE)--
KFx Medical announced that it received $35 million from Arthrex in payment for the judgment by the United States District Court for the Southern District of California in which a jury found that Arthrex infringed KFx’s U.S. Patent No. 7,585,311 and two other patents, found the patents were valid, and awarded $29 million in damages. In April 2015 the US Court of Appeals reaffirmed their Jan. 20, 2015 ruling upholding a judgment of the United States District Court for the Southern District of California and denied Arthrex’s petition for en banc rehearing and issued a mandate to enforce the judgment.
On August 1, 2011, KFx filed the complaint against Arthrex alleging claims of induced and contributory infringement of United States Patent Number 7,585,311. Previously KFx licensed the ‘311 family of patents to Johnson and Johnson and Smith & Nephew.
About KFx Medical
Headquartered in Solana Beach, Calif., KFx Medical was founded in 2003 to develop products for tissue fixation in a variety of orthopedic surgical procedures performed on the shoulder, knee, foot, and ankle. KFx provides simple systems for orthopedic surgeons focused on sports medicine. The new AppianFx line of implants from KFx reattach tissue to and in bone in shoulder, knee, foot and ankle procedures which combined exceed well over 1 million annual surgical procedures in the United States. Product offerings include those that directly place and secure tissue into bone both with and without the use of sutures.
The company is privately held — Investors include Alloy Ventures, Charter Life Sciences, Arboretum Ventures, Montreux Equity Partners, and MB Venture Partners.
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- United States District Court
- Arthrex