Healthcare Industry News: Cardia
News Release - September 18, 2006
NMT Medical Appeals Court's Ruling in Patent Infringement Lawsuit Against CardiaBOSTON, Mass., Sept. 18 (HSMN NewsFeed) -- NMT Medical, Inc. (Nasdaq: NMTI ) announced today that the Company and the Children's Medical Center Corporation (CMCC) have filed a notice of appeal of an August 29, 2006 decision from the U.S. District Court for the District of Minnesota. The patent infringement lawsuit was originally filed in September 2004 against Cardia, Inc. of Burnsville, Minnesota alleging that Cardia's Intrasept device infringes upon CMCC's U.S. Patent No. 5,451,235 (the '235 Patent), which NMT licenses exclusively. The recent district court order held that Cardia's device does not infringe the patent.
The order has no effect on the validity and enforceability of the '235 Patent. NMT stands by its initial allegations against Cardia and intends to pursue an appeal to overturn the ruling. Cardia has not asserted any claims against NMT's products, and the district court's decision will have no impact on NMT's ability to sell its products.
About NMT Medical, Inc.
NMT Medical is an advanced medical technology company that designs, develops, manufactures and markets proprietary implant technologies that allow interventional cardiologists to treat cardiac sources of migraine headaches, stroke and other potential brain attacks through minimally invasive, catheter-based procedures. NMT Medical is investigating the potential connection between a common cardiac defect called a PFO and brain attacks such as migraine headaches, stroke and transient ischemic attacks (TIAs). A PFO can allow venous blood, unfiltered and unmanaged by the lungs, to enter the arterial circulation of the brain, possibly triggering a cerebral event or brain attack. More than 21,000 PFOs have been closed globally with NMT's minimally invasive, catheter-based implant technology.
The prevalence of migraines in the United States is about 10%. Of the 28 million migraine sufferers in America, those who experience aura and have a PFO may represent a three million patient subset. Stroke is the third leading cause of death in the United States and the leading cause of disability in adults. Each year, 750,000 Americans suffer a new or recurrent stroke and 500,000 Americans experience a TIA.
The Company also serves the pediatric interventional cardiologist with a broad range of cardiac septal repair implants delivered with nonsurgical catheter techniques. For more information about NMT Medical, please visit http://www.nmtmedical.com.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements - including statements regarding the timing and outcome of any administrative and litigation proceedings to enforce the Company's intellectual property rights, including the Company's claims against Cardia and its pending appeal of the District Court's ruling regarding alleged infringement, and the Company's financial, sales and profitability expectations, expansion of the Company's cardiovascular business and market opportunities, including migraines and any other new applications for the Company's technology or products, regulatory approvals for the Company's products in the United States and abroad, and the Company's investment in product development - involve known and unknown risks, uncertainties or other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Factors that may cause such a difference include, but are not limited to, the Company's ability to develop and commercialize new products, a potential delay in the regulatory process with the U.S. Food and Drug Administration and foreign regulatory agencies, as well as risk factors discussed under the heading "Certain Factors That May Affect Future Results" included in Management's Discussion and Analysis of Financial Condition and Results of Operations in the Company's Annual Report on Form 10-K for the year ended December 31, 2005, Quarterly Report on Form 10-Q for the period ended June 30, 2006, and subsequent filings with the U.S. Securities and Exchange Commission.
Source: NMT Medical
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