IRIDEX Announces Infringement Lawsuit Against Quantel
January 09 2018 - 7:00AM
IRIDEX Corporation (NASDAQ:IRIX) announced today that it has filed
a lawsuit against Quantel Medical, S.A., Quantel USA, Inc.,
and Quantel, S.A. in the U.S. District Court for the Northern
District of California. The lawsuit alleges that Quantel
products infringe U.S. Patent No. 7,771,417, that Quantel
breached an earlier agreement between the parties, and that Quantel
has infringed Iridex's MicroPulse® trademark,
Registration No. 4550188 on the principal register.
Quantel previously had a limited license to the asserted IRIDEX
patent and trademark. The complaint reflects that the license
was terminated in early 2017 for material breach, but
that Quantel continued to use IRIDEX’s intellectual property
without authorization.
"IRIDEX has invested significant resources into
developing the MicroPulse laser technology for
treating sight-threatening eye diseases, such as glaucoma and
retinal diseases," stated William Moore, President and CEO.
"Our intellectual property and superior technology
differentiate our products from conventional laser treatments
in providing a tissue-sparing solution that allows the tissue to
cool between laser pulses, minimizing or preventing tissue damage,
reducing treatment risks, and improving patient comfort and
safety. We place significant value on our successes treating
these diseases with our proprietary technology, and will
protect our related intellectual property rights.”About
IRIDEXIRIDEX Corporation is a worldwide leader in
developing, manufacturing, and marketing innovative and versatile
laser-based medical systems, delivery devices and consumable
instrumentation for the ophthalmology market. The Company’s
proprietary MicroPulse® technology delivers a differentiated
treatment that provides safe, effective, and proven treatment for
targeted sight-threatening eye conditions. IRIDEX’s current product
line is used for the treatment of glaucoma, diabetic macular edema
(DME) and other retinal diseases. IRIDEX products are sold in the
United States through a direct sales force and internationally
primarily through a network of independent distributors into more
than 100 countries. For further information, visit the IRIDEX
website at http://www.iridex.com/.Safe Harbor
StatementThis announcement contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Act of 1934,
as amended, including any statements concerning the Company’s
intellectual property protection and litigation strategies, the
prosecution and outcome of any litigation involving the Company,
and the impact of any such litigation on the Company’s business or
financial results. These statements are not guarantees of
future performance and actual results may differ materially from
those described in these forward-looking statements as a result of
a number of factors. Please see a detailed description of these and
other risks contained in our Annual Report on Form 10-K for the
fiscal year ended December 31, 2016, and Quarterly Reports on Form
10-Q for subsequent fiscal quarters, each of which was filed with
the Securities and Exchange Commission. Forward-looking statements
contained in this announcement are made as of this date and will
not be updated.
Investor Relations ContactLynn Pieper Lewis or
Leigh Salvo(415) 937-5404investors@iridex.com
IRIDEX (NASDAQ:IRIX)
Historical Stock Chart
From Mar 2024 to Apr 2024
IRIDEX (NASDAQ:IRIX)
Historical Stock Chart
From Apr 2023 to Apr 2024