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
SOURCE QT Vascular Ltd.