Healthcare Industry News: KyphX
News Release - May 1, 2006
Kyphon Receives Additional Broad U.S. Patent for Kyphoplasty Method Through 2014SUNNYVALE, Calif., May 1 (HSMN NewsFeed) -- Kyphon Inc. (Nasdaq: KYPH ) today announced that it has expanded its intellectual property coverage over kyphoplasty, the minimally invasive procedure for treating spinal fractures caused by osteoporosis or cancer that Kyphon pioneered in the late 1990s, with issuance of U.S. Patent No. 6,981,981, a method patent covering various aspects of performing the procedure.
More specifically, the '981 patent discloses and claims, among its various embodiments, a method concerning introducing an expandable device into a vertebral body, expanding the device to selectively compact a region of cancellous bone inside the vertebra, and then filling the compacted region. The '981 patent is not expected to expire until 2014.
"We believe the '981 patent significantly extends our patent coverage for key aspects of the fundamental method of performing kyphoplasty," said Richard Mott, Kyphon's president and chief executive officer. "We also believe the issuance of our recent U.S. patents, including the '981 patent, significantly bolsters our existing portfolio and reflects both our continuing commitment to technological innovation and our constant efforts to aggressively pursue patent protection in our core markets in both the U.S. and abroad," Mott concluded.
Other recent patent issuances bring to over 130 the number of patents and patent applications in Kyphon's U.S. portfolio. Corresponding patent filings for many of these have also been made in many foreign jurisdictions, including in select countries in Europe and Asia.
About Kyphon Inc.
Kyphon develops and markets medical devices designed to restore spinal function using minimally invasive technologies. The company's KyphX line of products are used in balloon kyphoplasty, a minimally invasive procedure to treat spinal fractures caused by osteoporosis or cancer. For more information, visit Kyphon's Web site at http://www.kyphon.com.
NOTE: Kyphon and KyphX are registered trademarks of Kyphon Inc.
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements include, but are not limited to, those that use words such as "believes," "expects," "anticipates," "targets," "intends," "plans," "projects," and words of similar effect, and specifically include the company's future financial projections and anticipated business direction and performance. Forward-looking statements are based on management's current preliminary expectations and are subject to risks, uncertainties and assumptions, which may cause the company's actual results to differ materially from the statements contained herein. Information on potential risk factors that could affect Kyphon, its business and its financial results are detailed in the company's periodic filings with the Securities and Exchange Commission (SEC), including, but not limited to, those risks and uncertainties listed in the section entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations - Factors Affecting Future Operating Results," which can be found in Kyphon's annual report on Form 10-K for the year ended December 31, 2005 filed with the SEC on March 3, 2006. Kyphon undertakes no obligation to release publicly any revisions to any forward- looking statements contained herein to reflect events or circumstances after the date hereof.
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