Court Sets Injunction Hearing Date in Diomed EVLT Patent Litigation
09 Mayo 2007 - 8:50AM
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�) for varicose veins,
today announced that U.S. District Judge Nathaniel M. Gorton has
set May 22, 2007 as the date to hear oral arguments for a permanent
injunction against both AngioDynamics and Vascular Solutions
selling products that infringe Diomed�s United States Patent Number
6,398,777 regarding the endovascular laser treatment of varicose
veins. In January 2004, Diomed commenced legal action in the United
States Federal District Court for the District of Massachusetts
against AngioDynamics, seeking injunctive relief and damages for
infringement of Diomed's pioneering �777� patent. Diomed initiated
similar infringement actions against Vascular Solutions and two
other competitors later in 2004. In August 2006, Judge Gorton ruled
that Diomed�s �777 patent is both valid and enforceable and, in the
trial ending on March 28, 2007, the jury found AngioDynamics and
Vascular Solutions liable for both inducing infringement and
contributory infringement of Diomed's patent, awarding Diomed a
total of $12.4 million in damages. In addition to hearing Diomed�s
motion for a permanent injunction, Judge Gorton will hear arguments
for all the pending motions, including the defendants� motions for
a new trial or judgment as a matter of law and Diomed�s motions for
prejudgment interest and post-judgment damages. �We were obviously
extremely pleased with the jury�s verdict in this critical case and
look forward to the injunction hearing later this month,� stated
James A. Wylie, Jr., President and Chief Executive Officer of
Diomed Holdings, Inc. �A permanent injunction, if granted, will
require both companies to cease marketing their infringing
products. We are hopeful for an early ruling from the court which
will allow us to focus our efforts on growing this exciting
market.� About Diomed Diomed develops and commercializes minimal
and micro-invasive medical procedures that use its proprietary
laser technologies and disposable products. Diomed's EVLT� 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� 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�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 2006 Annual Report on Form
SEC 10-KSB (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 19 through 34 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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