SINGAPORE, Nov. 18, 2016 /PRNewswire/ -- QT Vascular
Ltd. (the "Company" or "QT Vascular", and
together with its subsidiaries, the "Group"), is a global
company engaged in the design, assembly and distribution of
advanced therapeutic solutions for the minimally invasive treatment
of vascular disease. Further to the Company's announcements of
29 April 2015, 2 July 2015 and 8 July
2015 and media release of 4 May
2015, 20 September 2015,
26 November 2015, 11 February 2016 and 25
July 2016, the Board of Directors of the Company is pleased
to provide an update in its litigation with AngioScore, Inc.
("AngioScore") (now owned by Spectranetics Corporation
(NASDAQ: SPNC)).
On 8 November 2016, the United States Court of Appeals for the
Federal Circuit (the "Federal Circuit") denied AngioScore's
petition for rehearing of the case en banc, and issued a
revised opinion. The 8 November
2016 revised opinion made certain changes to the language of
the previous 21 July 2016 opinion,
but reached the same judgment dated 21 July
2016 of reversing the district court's damages award and
ordering the district court to dismiss claims of breach of
fiduciary duty, aiding and abetting the breach and unfair
competition (the "State Law Claims").
The opinion on 8 November 2016, a
third win for the Group at the Federal Circuit this year, leaves
unchanged the 21 July 2016 judgement
that Chocolate® PTA does not infringe any of the asserted claims of
United States Patent No. 7,691,119 ("'119 patent") and that
all asserted claims of the '119 patent by AngioScore are invalid as
obvious over the prior art.
About QT Vascular Ltd. (SGX Stock code: 5I0)
QT Vascular Ltd. together with its subsidiaries ("QT
Vascular" or the "Group"), is an emerging leader in the
development and commercialization of next generation minimally
invasive products for the treatment of complex vascular disease. QT
Vascular works closely with leading physicians and scientists from
around the world to create differentiated devices that improve
procedural and clinical outcomes.
QT Vascular is based in Singapore with a US subsidiary, TriReme
Medical LLC ("TriReme Medical"), based in Pleasanton, California. TriReme Medical's
range of percutaneous transluminal angioplasty ("PTA") and
percutaneous transluminal coronary angioplasty ("PTCA")
products include (i) Chocolate® PTA Balloon Catheter,
(ii) Chocolate® PTCA Balloon Catheter, (iii)
GliderXtreme™ PTA Balloon Catheter, (iv)
GliderfleX® PTA Balloon Catheter and (v)
Glider™ PTCA Balloon Catheter, all of which have the
CE mark that allows them to be sold in Europe, and FDA clearance to be sold in
the United States. Additionally,
the GliderXtreme™ PTA Balloon Catheter has the
regulatory clearance in China and
Japan, while the
Glider™ PTCA Balloon Catheter has the regulatory
clearance in Japan. These products
are sold by the Group's direct sales team and through its main
distributors: (i) Cordis Corporation (a wholly-owned subsidiary of
Cardinal Health, Inc.), (ii) Shandong Weigao Group Medical Polymer
Co Ltd and (iii) Century Medical, Inc.
The Group's drug coated version of the Chocolate® PTA
Balloon Catheter, Chocolate Touch®, and the
Chocolate® PTCA Balloon Catheter, Chocolate Heart™, have
the CE mark that allows them to be sold in Europe.
For more information, please visit the company website at
www.qtvascular.com
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SOURCE QT Vascular Ltd.