Healthcare Industry News: vascular access
News Release - October 29, 2007
AngioDynamics Granted Summary Judgment Motion On Willfulness in VNUS LitigationQUEENSBURY, N.Y.--(HSMN NewsFeed)--AngioDynamics (NASDAQ:ANGO) today announced that its motion for summary judgment of no willful infringement was granted in the U.S. District Court in the Northern District of California in the patent litigation brought by VNUS Medical Technologies against Diomed, AngioDynamics and Vascular Solutions.
Judge Maxine Chesney found that VNUS was not able to establish that AngioDynamics willfully infringed the VNUS patents, ruling that willful infringement is not a trialable issue against AngioDynamics. The impact of the ruling prevents the potential tripling of damages in the event that a jury finds infringement by AngioDynamics.
The trial start date has been delayed; a new start date has not been set due to time constraints of the court.
AngioDynamics, Inc. is a leading provider of innovative medical devices used by interventional radiologists, surgeons, and other physicians for the minimally invasive treatment of cancer and peripheral vascular disease. The Company's diverse product line includes market-leading radiofrequency ablation systems, vascular access products, angiographic products and accessories, dialysis products, angioplasty products, drainage products, thrombolytic products, embolization products and venous products.
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 2, 2007, may affect the actual results achieved by the Company.
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