Vascular Solutions and Diomed Settle Trade Secret and Sheath Marking Litigation
June 23 2006 - 5:04PM
PR Newswire (US)
MINNEAPOLIS, June 23 /PRNewswire-FirstCall/ -- Vascular Solutions,
Inc. (NASDAQ:VASC) and Diomed, Inc., a subsidiary of Diomed
Holdings, Inc. (AMEX:DIO) 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 Vascular Solutions Vascular Solutions, Inc. is a
medical device company that focuses on developing unique solutions
for unmet clinical opportunities within Interventional radiology
and Interventional cardiology. New products introduced since the
second half of 2003 include the Vari-Lase(R) endovenous laser
product line for the treatment of varicose veins, the D-Stat
Dry(TM) hemostatic bandage for the rapid control of topical
bleeding, the Pronto(TM) extraction catheter for the mechanical
extraction of soft thrombus, the Langston(R) dual lumen catheter
for the measurement of aortic stenosis and the Twin-Pass(TM) dual
access catheter for dual wire access in interventional cardiology
procedures. The Company's other major products include the
Duett(TM) sealing device to rapidly seal the puncture site
following catheterization procedures and the D-Stat(R) Flowable
hemostat for the local management of active bleeding. The
information in this press release contains forward-looking
statements that involve risks and uncertainties. Our actual results
could differ materially from those anticipated in these
forward-looking statements. Important factors that may cause such
differences include those discussed in our Annual Report on Form
10-K for the year ended December 31, 2005 and other recent filings
with the Securities and Exchange Commission. The risks and
uncertainties include, without limitation, risks associated with
the need for adoption of our new products, limited working capital,
lack of profitability, exposure to intellectual property claims,
dependence on key vendors, exposure to possible product liability
claims, the development of new products by others, doing business
in international markets, limited manufacturing experience, the
availability of third party reimbursement, and actions by the FDA.
For further information, connect to
http://www.vascularsolutions.com/ . DATASOURCE: Vascular Solutions,
Inc. CONTACT: Howard Root, CEO, or James Hennen, CFO, both of
Vascular Solutions, Inc., +1-763-656-4300 Web site:
http://www.vascularsolutions.com/
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