Healthcare Industry News: AngioDynamics
News Release - January 17, 2008
Court Denies Diomed Motion Against AngioDynamicsQUEENSBURY, N.Y.--(HSMN NewsFeed)--AngioDynamics (NASDAQ:ANGO ), a leading provider of innovative medical devices used by interventional radiologists and surgeons for the minimally invasive treatment of cancer and peripheral vascular disease, today announced that U.S. District Court Judge Nathaniel M. Gorton has denied the Motion for Contempt filed by Diomed on July 11, 2007 alleging that AngioDynamics violated the permanent injunction issued by the Court on July 2, 2007. In an order received on January 16, 2008, the judge stated that “the Court recognized then, as it does now, that [AngioDynamics] could develop non-infringing kits and the sales of laser consoles with such kits would not infringe the patent,” thereby denying Diomed’s motion.
The July 2, 2007 injunction prohibited AngioDynamics from selling the disposable kits that were found to infringe at trial and from selling laser consoles for use with those kits. Prior to the injunction, AngioDynamics stopped selling those disposable kits and introduced the new NeverTouch™ VenaCure® disposable kit. The Company continues to sell laser consoles for use with NeverTouch kits.
AngioDynamics has appealed the outcome of this patent infringement litigation with the U.S. Court of Appeals, Federal Circuit. Oral arguments are expected to be presented to a three-judge panel in March or April 2008.
NeverTouch is a significant improvement over the original VenaCure. It employs a proprietary spacer component over its laser fiber tip, a new generation of technology designed to further eliminate inadvertent contact between the laser-emitting end of the fiber and vessel wall during treatment. NeverTouch represents an advance over AngioDynamics’ first generation bare-tipped VenaCure. In October 2007, AngioDynamics was granted Patent No. 7,273,478, which covers an endovascular laser treatment device with a spacer that positions the fiber tip away from the vessel wall.
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.
About Forward Looking Statements
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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