Court Rules in Favor of Diomed on Marked EVLT Sheath; Dismisses AngioDynamics' Declaratory Judgment
September 11 2006 - 11:19AM
Business Wire
Diomed Holdings, Inc. (AMEX: DIO - News), a leading developer and
marketer of minimally invasive medical technologies, including its
patented EndoVenous Laser Treatment (EVLT(R)) for varicose veins,
today announced that US District Court of Delaware has granted
Diomed's motion to dismiss and denied AngioDynamics' motion to
amend its complaint seeking to declare the claims of Diomed's two
"marked sheath" patents invalid, non-infringed and unenforceable.
On January 3, 2006, AngioDynamics filed a lawsuit against Diomed in
the U.S. District Court for the District of Delaware, seeking a
declaratory judgment with respect to the claims of Diomed, Inc.'s
U.S. Patent Number 6,981,971 (the "971 Patent"). The '971 Patent
relates to an introducer sheath/optical fiber arrangement for use
in the endovascular laser treatment of varicose veins. The patent
was issued on January 3, 2006, the day on which AngioDynamics filed
the lawsuit. On January 17, 2006, AngioDynamics filed an Amended
Complaint seeking a declaratory judgment with respect to Diomed,
Inc.'s U.S. Patent Number 6,986,766 (the "766 Patent"), as well.
The '766 Patent relates to methods of using an introducer
sheath/optical fiber arrangement in the endovascular laser
treatment of varicose veins. On January 31, 2006, Diomed moved to
dismiss AngioDynamics' lawsuit based on lack of jurisdiction and a
number of other deficiencies in AngioDynamics' complaint. "Although
this case does not involve our primary '777 EVLT(R) patent, we are
extremely pleased with the court's decision to dismiss
AngioDynamics' case," stated James A. Wylie, Jr., President and
Chief Executive Officer of Diomed Holdings, Inc. The issues raised
in AngioDynamics' Delaware declaratory judgment suit are unrelated
to the '777 Patent litigation, which is currently pending and
expected to proceed to trial for infringement. In that case, U.S.
District Judge Nathaniel M. Gorton recently ruled that Diomed's
U.S. Patent No. 6,398,777 is both valid and enforceable. 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.
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