Devices Neurology Litigation

 News Release - February 28, 2020

Nevro and Stimwave Reach Worldwide Settlement in Patent Infringement Lawsuit: Stimwave Agrees to a Permanent Injunction

Stimwave To Cease Commercialization of Spinal Cord Stimulation Products Delivering Therapy Between 1,500 Hz and 100,000 Hz

REDWOOD CITY, Calif., Feb. 28, 2020 -- (Healthcare Sales & Marketing Network) -- Nevro Corp. (NYSE: NVRO), a global medical device company that is providing innovative, evidence-based solutions for the treatment of chronic pain, today announced the settlement of its patent infringement lawsuit against Stimwave Technologies, Inc. Stimwave has agreed to cease commercialization of all high frequency spinal cord stimulation systems worldwide.

The lawsuit was filed in the United States District Court for the District of Delaware on February 14, 2019, and asserted, among other things, that Stimwave was infringing Nevro's patents covering inventions relating to Nevro's groundbreaking Senza® system and HF10® therapy. In July 2019, the District of Delaware issued a preliminary injunction against Stimwave. Stimwave has now agreed to a permanent injunction under which Stimwave's products will not deliver spinal cord stimulation therapy that includes pulse frequencies between 1,500 Hz and 100,000 Hz. The agreement reached between Nevro and Stimwave will apply globally. The permanent injunction will be filed with the Delaware district court. After the court enters the permanent injunction, the case (including Stimwave's appeal of the preliminary injunction order) will be dismissed. As part of the permanent injunction filing, Stimwave acknowledges the validity of the patents Nevro asserted in the litigation.

"We are pleased that the resolution of this matter recognizes the innovation behind HF10® therapy, and the strength of the intellectual property that protects it," said Kashif Rashid, General Counsel, Nevro. "There is extensive evidence supporting the clinical value of HF10® therapy, and the mechanism of action behind the superior clinical results of HF10® therapy is unique. Our ability to protect our intellectual property allows us to continue making the significant clinical and technological investments required to partner with physicians in the pursuit of helping more patients suffering from chronic pain."

Documents relating to the lawsuit are available at the court's website: www.ded.uscourts.gov. The district court case no. is 1:19-cv-00325-CFC.

About Nevro Corp. Headquartered in Redwood City, California, Nevro is a global medical device company focused on providing innovative products that improve the quality of life of patients suffering from debilitating chronic pain. Nevro has developed and commercialized the Senza® spinal cord stimulation (SCS) system, an evidence-based, non-pharmacologic neuromodulation platform for the treatment of chronic pain. HF10® therapy has demonstrated the ability to reduce or eliminate opioids in =65% of patients across six peer-reviewed clinical studies. The Senza® System, Senza II™ System, and the Senza® Omnia™ System are the only SCS systems that deliver Nevro's proprietary HF10® therapy. Senza, Senza II, Senza Omnia, HF10, Nevro and the Nevro logo are trademarks of Nevro Corp.

Source: Nevro

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