Diomed and Vascular Solutions Settle Trade Secret and Sheath Marking Litigation
June 23 2006 - 4:04PM
Business Wire
Diomed, Inc., a subsidiary of Diomed Holdings, Inc. (AMEX: DIO) and
Vascular Solutions, Inc. (Nasdaq: VASC) today jointly announced
that they have settled the trademark and trade secret litigation
between the parties and all issues surrounding Diomed's marked
sheath patents. The terms of the settlement are confidential. The
settlement does not affect the ongoing dispute between the parties
regarding infringement of Diomed's United States Patent Number
6,398,777. Diomed and Vascular Solutions declined further comment
on the matter. About Diomed Diomed develops and commercializes
minimal and micro-invasive medical procedures that use its
proprietary laser technologies and disposable products. Diomed's
EVLT(R) laser vein ablation procedure is used in varicose vein
treatments. Diomed also provides photodynamic therapy (PDT) for use
in cancer treatments, and dental and general surgical applications.
The EVLT(R) procedure and the Company's related products were
cleared by the United States FDA in January of 2002. Along with
lasers and single-use procedure kits for its EVLT(R) laser vein
treatment, the Company provides its customers with state of the art
physician training and practice development support. Additional
information is available on the Company's website: www.evlt.com.
EVLT(R) is a registered trademark of Diomed Inc., Andover, MA. Safe
Harbor Safe Harbor statements under the Private Securities
Litigation Reform Act of 1995: Statements in this news release
looking forward in time involve risks and uncertainties, including
the risks associated with trends in the products markets, reliance
on third party distributors in various countries outside the United
States, reoccurring orders under OEM contracts, market acceptance
risks, technical development risks and other risk factors. These
statements relate to our future plans, objectives, expectations and
intentions. These statements may be identified by the use of words
such as "may," "will," "should," "potential," "expects,"
"anticipates," "intends," "plans," "believes" and similar
expressions. These statements are based on our current beliefs,
expectations and assumptions and are subject to a number of risks
and uncertainties. Our actual results could differ materially from
those discussed in these statements. Our Annual Report on Form SEC
10-KSB/A (the "Annual Report") contains a discussion of certain of
the risks and uncertainties that affect our business. We refer you
to the "Risk Factors" on pages 23 through 38 of the Annual Report
for a discussion of certain risks, including those relating to our
business as a medical device company without a significant
operating record and with operating losses, our risks relating to
our commercialization of our current and future products and
applications and risks relating to our common stock and its market
value. Diomed disclaims any obligation or duty to update or correct
any of its forward-looking statements.
Diomed (AMEX:DIO)
Historical Stock Chart
From Jun 2024 to Jul 2024
Diomed (AMEX:DIO)
Historical Stock Chart
From Jul 2023 to Jul 2024