ZEPHYR COVE, Nev., Nov. 13, 2013 /PRNewswire/ -- VirnetX™ Holding
Corporation (NYSE MKT: VHC), an Internet security software and
technology company, announced today that the United States Patent
and Trademark Office (USPTO) has terminated all four of the inter
partes reviews (IPRs) of VirnetX's patents initiated by New Bay
Capital, LLC. New Bay had petitioned for inter partes review
of certain claims of VirnetX's U.S. Patent Nos. 6,502,135,
7,418,504, 7,490,151 and 7,921,211. However, New Bay reversed
course and moved to terminate its IPRs by requesting an adverse
judgment. The USPTO entered judgment against New Bay and
terminated the IPRs.
"We are pleased that the USPTO has agreed to terminate the IPRs
initiated by New Bay," said Kendall
Larsen, VirnetX CEO and President. "We continue to
believe in the validity of our
patents."
About VirnetX
VirnetX Holding Corporation is an
Internet security software and technology company with patented
technology for secure communications including 4G LTE security.
The Company's software and technology solutions, including
its secure domain name registry and GABRIEL Connection Technology™,
are designed to facilitate secure communications and to create a
secure environment for real-time communication applications such as
instant messaging, VoIP, smart phones, eReaders and video
conferencing. The Company's patent portfolio includes over 80
U.S. and international patents with over 100 pending applications.
For more information, please visit www.virnetx.com.
Forward Looking Statements
Statements in this press
release that are not statements of historical or current fact,
including statements regarding the strength of Virnetx's
intellectual property, constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such forward-looking statements are based on
expectations, estimates and projections about the markets in which
the Company operates, management's beliefs, and certain assumptions
made by management and involve known and unknown risks,
uncertainties and other unknown factors that could cause the actual
results of the Company to be materially different from the
historical results or from any future results expressed or implied
by such forward-looking statements, including but not limited to
(1) the outcome of any legal proceedings that have been or may be
initiated by the Company or that may be initiated against the
Company; (2) the ability to capitalize on the Company's patent
portfolio and generate licensing fees and revenues; (3) the ability
of the Company to be successful in entering into licensing
relationships with its targeted customers on commercially
acceptable terms; (4) potential challenges to the validity of the
Company's patents underlying its licensing opportunities; (5) the
ability of the Company to achieve widespread customer adoption of
the Company's GABRIEL Communication Technology™ and its secure
domain name registry; (6) the level of adoption of the 3GPP Series
33 security specifications; (7) whether or not the Company's
patents or patent applications may be determined to be or become
essential to any standards or specifications in the 3GPP LTE, SAE
project or otherwise; (8) the extent to which specifications
relating to any of the Company's patents or patent
applications may be adopted as a final standard, if at
all; and (9) the possibility that Company may be adversely affected
by other economic, business, and/or competitive factors. In
addition to statements which explicitly describe such risks and
uncertainties, readers are urged to consider statements labeled
with the terms "believes," "belief," "expects," "intends,"
"anticipates," or "plans" to be uncertain and forward-looking.
The forward-looking statements contained herein are also
subject generally to other risks and uncertainties that are
described from time to time in the Company's reports and
registration statements filed with the Securities and Exchange
Commission, including those under the heading "Risk Factors" in
Company's Quarterly Report on Form 10-Q filed with the SEC on
November 12, 2013. Many of the
factors that will determine the outcome of the subject matter of
this press release are beyond the Company's ability to control or
predict. Except as required by law, the Company is under no
duty to update any of the forward-looking statements after the date
of this press release to conform to actual results.
Contact:
Greg Wood
VirnetX Holding Corporation
775.548.1785
greg_wood@virnetx.com
VirnetX and GABRIEL Connection Technology are trademarks of
VirnetX Holding Corporation.
SOURCE VirnetX Holding Corporation