Healthcare Industry News: Conor Medsystems
News Release - January 16, 2007
Conor Medsystems Announces Decision From U.K. Court of AppealDecision Upholds Ruling Invalidating Angiotech Patent on Paclitaxel Coated Stents
MENLO PARK, Calif., Jan 16 (HSMN NewsFeed) -- Conor Medsystems, Inc. (Nasdaq: CONR ) announced that the Court of Appeal in the United Kingdom today unanimously upheld the decision of the High Court of Justice to revoke the UK portion of European Patent (EP) 0 706 376 B1 to Angiotech Pharmaceuticals, Inc. The patent is exclusively licensed to Boston Scientific Corporation for use in the field of coronary stents.
On February 18, 2005, Conor Medsystems initiated proceedings against Angiotech and the University of British Columbia in the High Court of Justice in the United Kingdom requesting that the court invalidate EP 0 706 376 B1 based on the grounds that all claims of the patent either lack novelty or are obvious in light of the state of scientific knowledge at the priority date of the patent. On February 24, 2006, the High Court of Justice rendered its decision that the patent is invalid based on the grounds that the patent was obvious in light of the state of scientific knowledge at the priority date of the patent. On May 31, 2006, Angiotech appealed the decision to the U.K. Court of Appeal. On January 16, 2007 the Court of Appeal dismissed the appeal.
Conor Medsystems develops innovative controlled vascular drug delivery technologies, and has primarily focused on the development of drug-eluting stents to treat coronary artery disease. For further information on Conor Medsystems and controlled vascular delivery, visit www.conormed.com.
Source: Conor Medsystems
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