Healthcare Industry News: Diomed
News Release - November 21, 2006
AngioDynamics Comments on Markman Ruling in VNUS LitigationQUEENSBURY, N.Y.--(HSMN NewsFeed)--AngioDynamics, Inc. (Nasdaq:ANGO ) today announced that on November 20, 2006, United States District Court Judge Maxine Chesney issued a Markman ruling in the first stage of the patent litigation between VNUS Medical Technologies Inc. and AngioDynamics, Inc., Vascular Solutions, Inc. and Diomed, Inc. The ruling is a preliminary step in the litigation process whereby the court interprets the claims of the asserted patents.
In a lawsuit filed in 2005 in Federal District Court in San Francisco, VNUS accused the defendants of infringing four patents principally directed towards VNUS' method for treating varicose veins. The VNUS patents describe a procedure for treating venous disease with an electrode catheter that delivers radiofrequency (RF) energy directly to the inner wall of the vein.
Eamonn P. Hobbs, president and chief executive officer of AngioDynamics, said, "These patents are clearly intended to cover VNUS' RF procedures only. By pursuing a claim construction that covers forms of energy other than RF, we believe that VNUS has put the validity of the patents at significant risk. We strongly believe that Judge Chesney or a jury will hold that the patents are invalid and are not infringed."
AngioDynamics will have opportunity to file summary judgment motions prior to the trial, which is currently scheduled for October 2007.
The VenaCure endovascular laser venous system is a patient-friendly, minimally invasive alternative for the treatment of severe varicose veins. The VenaCure procedure, which lasts about 45 minutes, offers patients an effective outpatient alternative to surgical ligation and vein stripping. The Company markets and sells the VenaCure laser system throughout the United States.
AngioDynamics, Inc. is a leading provider of innovative medical devices used by interventional radiologists, vascular surgeons and other physicians for the minimally invasive diagnosis and treatment of peripheral vascular disease. AngioDynamics, Inc. designs, develops, manufactures and markets a broad line of therapeutic and diagnostic devices that enable interventional physicians, such as interventional radiologists, vascular surgeons and others, to treat peripheral vascular diseases and other non-coronary diseases. The Company's diverse product line includes angiographic products and accessories, dialysis products, vascular access products, PTA products, drainage products, thrombolytic products and venous products. More information is available at www.angiodynamics.com.
The statements made in this document contain certain forward-looking statements that involve a number of risks and uncertainties. Words such as "expects," "intends," "anticipates," "plans," "believes," "seeks," "estimates," or variations of such words and similar expressions, are intended to identify such forward-looking statements. Investors are cautioned that actual events or results may differ from the Company's expectations. In addition to the matters described above, the ability of the Company to develop its products, future actions by the FDA or other regulatory agencies, results of pending or future clinical trials, overall economic conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations and competition, as well as the risk factors listed from time to time in the SEC filings of AngioDynamics, Inc., including but not limited to its Annual Report on Form 10-K for the year ended June 3, 2006, may affect the actual results achieved by the Company.
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