Diomed Seeks Preliminary Injunction Against Total Vein Solutions
12 Julio 2007 - 2:38PM
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 it has filed for a preliminary injunction
against Total Vein Solutions in its continuing effort to enforce
its U.S. Patent Number 6,398,777 covering the endovascular laser
treatment of varicose veins. Diomed commenced legal action in the
U.S. Federal District Court for the District of Massachusetts
against Total Vein Solutions seeking injunctive relief and damages
for infringement of Diomed's �777 patent in 2004. In a separate
2006 hearing against AngioDynamics, Inc. and Vascular Solutions,
Inc., Judge Gorton of the same Federal District Court ruled that
Diomed�s �777 patent is both valid and enforceable. 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. Judge Gorton subsequently granted
Diomed a permanent injunction against both defendants and awarded
Diomed a total of $14.7 million in damages. �We are very pleased
with Judge Gorton�s ruling which prohibits Angiodynamics and
Vascular Solutions from promoting, marketing and selling their
infringing lasers and disposable products,� said James A. Wylie,
President and CEO of Diomed. �Now that the Court has found Diomed's
patent to be valid and enforceable and a jury has found competing
contact-based laser fiber systems to infringe, we believe that an
immediate injunction that puts a stop to Total Vein Solutions'
sales of such infringing products would be timely and appropriate.�
The motion for a preliminary injunction against Total Vein
Solutions was also filed with Judge Gorton. The motion has been
fully briefed and is pending before the Court for decision. 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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