SINGAPORE, Feb. 11, 2016
/PRNewswire/ -- QT Vascular Ltd., together with its
subsidiaries (the "Company" or "QT Vascular", and
together with its subsidiaries, the "Group"), is pleased to
provide an update in its ongoing litigation with AngioScore, Inc.
("ÄngioScore") (now owned by Spectranetics Corporation
(NASDAQ: SPNC)).
On February 5, 2016, a unanimous
three-judge panel of the United
States Court of Appeals for the Federal Circuit (the
"Federal Circuit") reversed an earlier district court order
(the "DCO"). The DCO had dismissed TriReme
Medical LLC's ("TriReme Medical") lawsuit against AngioScore
seeking correction of inventorship of U.S. Patent Nos. 8,080,026,
8,454,636 and 8.721,667 (the "Suit"). Each of these
patents-in-suit pertains to AngioScore's AngioSculpt
device.
TriReme Medical, one of the Group's subsidiaries, had obtained a
license to those patents from an Israeli cardiologist who the Suit
contends should be added as an inventor. The United States
District Court for the Northern District of California had dismissed the Suit on the basis
that the cardiologist had previously assigned any interest he had
in the patents-in-suit to AngioScore.
The Federal Circuit however reversed this dismissal and the DCO.
The Federal Circuit held that the plain language of the
cardiologist's consulting agreement did not require assignment of
work that the cardiologist had performed prior to the agreement's
effective date. The Federal Circuit remanded the case to the
district court for further proceedings.
"We are pleased that the Federal Circuit opinion, which reversed
the district court's dismissal and agreed with our legal position,"
said QT Vascular CEO, Eitan
Konstantino. "We look forward to perfecting our rights to
those patents when the correction of inventorship matter returns to
the district court."
About QT Vascular Ltd. (SGX Stock code: 5I0)
QT Vascular Ltd. together with its subsidiaries ("QT
Vascular" or the "Group"), is an emerging leader in the
development and commercialization of next generation minimally
invasive products for the treatment of complex vascular disease. QT
Vascular works closely with leading physicians and scientists from
around the world to create differentiated devices that improve
procedural and clinical outcomes.
QT Vascular is based in Singapore with a US subsidiary, TriReme
Medical LLC ("TriReme Medical"), based in Pleasanton, California. TriReme Medical's
range of percutaneous transluminal angioplasty ("PTA") and
percutaneous transluminal coronary angioplasty ("PTCA")
products include (i) Chocolate® PTA Balloon Catheter,
(ii) Chocolate® PTCA Balloon Catheter, (iii)
GliderXtreme™ PTA Balloon Catheter, (iv)
GliderfleX® PTA Balloon Catheter and (v)
Glider™ PTCA Balloon Catheter, all of which have the
CE Mark that allows them to be sold in Europe, and FDA clearance to be sold in
the United States. Additionally,
the GliderXtreme™ PTA Balloon Catheter has the
regulatory clearance in China and
Japan, while the
Glider™ PTCA Balloon Catheter has the regulatory
clearance in Japan. These products
are mainly sold through its main distributors: (i) Cordis
Corporation (a wholly-owned subsidiary of Cardinal Health, Inc.),
(ii) Shandong Weigao Group Medical Polymer Co Ltd and (iii) Century
Medical, Inc.
For more information, please visit the company website at
www.qtvascular.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/qt-vascular-announces-another-positive-outcome-in-litigation-with-spectraneticsangioscore-300218571.html
SOURCE QT Vascular Ltd.