Sciax Announces Issuance of Patent
Monday December 15, 4:10 pm ET
BAY CITY, Mich. and TORONTO, Dec. 15, 2003 (PRIMEZONE) -- Ugomedia Interactive Corp. (name change to Sciax Corporation pending) (OTC BB:UGMI.OB - News) is pleased to announce that the US Patent and Trademark office has issued Patent Number 6,629,944 to Sciax Technology Inc. for an important new limb positioning device designed for orthopedic surgical applications.
The BASE1 device allows surgeons to more accurately position patient limbs during surgical procedures and is particularly valuable in shoulder operations, a growing segment of the orthopedic surgical market.
With the issuance of the patent, Sciax will assign the intellectual property rights of BASE1 to Linvatec, a Largo Florida based world leader in technology for a growing range of least-invasive and orthopedic surgical products. In December of 2001, Sciax received a $343,000 upfront payment from Linvatec related to BASE1, and expects to realize up to $3,000,000 in royalty payments during the five years following the product launch.
``We look forward to BASE1 contributing to our revenues through our agreement with Linvatec'' Stated Ken Smart, President and founder of Sciax. ``Although we continue to focus on defense and industrial markets, we have not ruled out additional development work in the medical field given our growing expertise in imaging systems.''
Nitin Amersey, CEO and Chairman of Sciax, stated that ``Protection of our intellectual property is a priority for the company and patents are an important part of this. I expect to see a significant number of patents issued to Sciax during the next few years.''
AI
