Judge Grants Diomed Permanent Injunction in '777 Patent Case
02 Julio 2007 - 4:25PM
Business Wire
Diomed Holdings, Inc. (AMEX: DIO - News), a leading developer and
marketer of minimally invasive medical technologies, today
announced that U.S. District Judge Nathaniel M. Gorton has granted
Diomed a permanent injunction against both AngioDynamics and
Vascular Solutions based on Diomed�s United States Patent Number
6,398,777 regarding the endovascular laser treatment of varicose
veins. In today�s ruling, Judge Gorton adopted Diomed�s proposed
order, granting a permanent injunction against AngioDynamics� and
Vascular Solutions� infringing products and any other products that
are no more than �mere colorable variations.� �We are extremely
pleased with Judge Gorton�s ruling which prohibits the defendants
from promoting, marketing and selling their laser consoles or any
disposable products that are used in the endovenous treatment
method covered by our patent,� said James A. Wylie, President and
CEO of Diomed. �Today�s ruling is a huge win for Diomed. If the
defendants� recently modified products are mere colorable
variations of those already determined to infringe, then we will be
in a position to file a motion for a finding of contempt of court.
Alternatively, if the devices do not permit contact between the
fiber tip and the vein wall, then there is no long-term clinical
evidence that such alternative approaches will deliver sustained
vein closure.� 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. The parties
have also stipulated to an additional $2.2 million representing
prejudgment interest and post-judgment sales that will be added to
the damages awarded by the jury. Last month, Judge Gorton: Denied
the defendants� motion for a new trial; Denied the defendants�
motion for judgment as a matter of law to overturn the jury
verdict; and Denied the defendants� request to reduce the amount of
the damages awarded by the jury. Wylie further commented,
�Normally, when a medical device company introduces a new product
or procedure, the launch is based on extensive testing and sound
clinical data. Any new product that is claimed to avoid contact
between the fiber and the vein wall should be viewed as an entirely
new procedure and thus should be subject to the same levels of
clinical scrutiny as EVLT� when it was first introduced. Diomed
believes that the defendants� latest products were brought to
market with only one objective apparently in mind --- an attempt to
get around our patent, and not because they offer proven advantages
to the physician or better outcomes for the patient.� 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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