UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
________________________
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of
Report (Date of earliest event reported): September
1, 2006
MEDASORB
TECHNOLOGIES CORPORATION
(Exact
name of registrant as specified in its charter)
|
Nevada
|
000-51038
|
98-0373793
|
|
(State
or other jurisdiction
|
(Commission
|
(I.R.S.
Employer
|
|
of
incorporation)
|
File
Number)
|
Identification
Number)
|
7
Deer
Park Drive, Suite K, Monmouth Junction, New Jersey 08852
(Address
of principal executive office) (Zip Code)
Registrant’s
telephone number, including area code: (732)
329-8885
Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2.below):
o
Written
communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting
material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
communications pursuant to Rule
14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13c-4(c))
Item
1.01. Entry
into a Material Definitive Agreement.
On
September 1, 2006, the United States District Court for The Eastern District
Of
Pennsylvania approved a Stipulated Order and Settlement Agreement (the
“Settlement Agreement”) under which MedaSorb Technologies Corporation
(“MedaSorb”) and Purolite International Ltd. and its affiliates (“Purolite”)
agreed to the settlement of the action that had been commenced by Purolite
in
which Purolite claimed ownership rights in certain of MedaSorb’s patents. The
Settlement Agreement provides MedaSorb with the exclusive right to use its
patented technology and proprietary know how relating to adsorbent polymers
for
a period of 18 years. Under the terms of the Settlement Agreement, MedaSorb
has
agreed to pay Purolite royalties of 2.5% to 5% on the sale of certain of its
products if and when those products are sold commercially. A copy of the
Settlement Agreement is filed as Exhibit 10.1 to this Current Report on Form
8-K
and is incorporated herein by reference.
Item
9.01. Financial Statements and Exhibits
|
Exhibit
10.1
|
Stipulated
Order and Settlement Agreement by and Between Bro-Tech Corporation
and
Purolite International Ltd. and MedaSorb
Corporation.
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Date:
September 7, 2006
MEDASORB
TECHNOLOGIES CORPORATION
By:
/s/
Al
Kraus
Al
Kraus,
President
and Chief Executive Officer
EXHIBIT
INDEX
|
No.
|
Description
|
|
Exhibit
10.1
|
Stipulated
Order and Settlement Agreement by and Between Bro-Tech Corporation
and
Purolite International Ltd. and MedaSorb
Corporation.
|