MARIETTA, Ga., Aug. 21, 2015 /PRNewswire/ -- MiMedx Group, Inc. (NASDAQ: MDXG), the leading regenerative medicine company utilizing human amniotic tissue and patent-protected processes to develop and market advanced products and therapies for the Wound Care, Surgical, Orthopedic, Spine, Sports Medicine, Ophthalmic and Dental sectors of healthcare, announced today the Patent Trial and Appeal Board ("PTAB") has ruled in favor of the Company's primary EpiFix® and AmnioFix® patents.
In April 2014, MiMedx filed patent infringement lawsuits in the United States District Court for the Northern District of Georgia against Liventa Bioscience, Inc., Medline Industries, Inc. and Musculoskeletal Transplant Foundation, Inc. for permanent injunctive relief and unspecified damages. In May 2014, the Company also filed a separate action against Transplant Technology, Inc. d/b/a Bone Bank Allograft and Texas Human Biologics Ltd. for patent infringement.
In both suits, MiMedx asserted that these organizations infringed and continue to infringe at least six MiMedx patents. As part of their defense strategy, two of the four defendants submitted certain of the MiMedx patents to the inter partes review process, which means they are asking the PTAB to review the subject matter covered by the MiMedx patents and decide whether it was proper for the patents to have been granted in the first place.
In general, the inter partes review process works as follows: If the PTAB rejects the request for inter partes review, it essentially means that the PTAB found no basis to challenge the patent on obvious or anticipation grounds. If the PTAB grants inter partes review, it means that the PTAB has found that it is worth reviewing the patent, but by no means is it an indication in and of itself that there is something wrong with the subject patent.
MiMedx received two recent rulings from the PTAB. One PTAB ruling was made in regard the inter partes review request related to the MiMedx primary EpiFix patent and the other recent PTAB decision was for the inter partes review request related to the MiMedx AmnioFix patent. In both rulings, the PTAB found no basis to challenge these patents and fully rejected the request for review on these patents.
Parker H. "Pete" Petit, Chairman and CEO said, "This victory means that the key patents for both of our flagship brands, EpiFix and AmnioFix, have withstood the scrutiny of the request for inter partes review, and they stand unaltered by the PTAB."
Bill Taylor, President and COO, added, "It is important to note that inter partes review is granted by the PTAB in 93% of the cases in which it is requested by defendants. Therefore, it is extremely common for inter partes review to be granted. These rulings to not grant these customary reviews are a testimony to the strength we have created to protect the Company's intellectual property."
MiMedx® is an integrated developer, processor and marketer of patent protected regenerative biomaterial products and bioimplants processed from human amniotic membrane. "Innovations in Regenerative Biomaterials" is the framework behind our mission to give physicians products and tissues to help the body heal itself. Our biomaterial platform technologies are AmnioFix®, EpiFix® and CollaFix™. AmnioFix® and EpiFix® are our tissue technologies processed from human amniotic membrane derived from donated placentas. Through our donor program, a mother delivering via full-term Caesarean section birth can elect in advance of delivery to donate the placenta in lieu of having it discarded as medical waste. We process the human amniotic membrane utilizing our proprietary PURION® Process, to produce a safe and effective implant. MiMedx is the leading supplier of amniotic tissue, having supplied over 450,000 allografts to date for application in the Wound Care, Surgical, Orthopedic, Spine, Sports Medicine, Ophthalmic and Dental sectors of healthcare. CollaFix™, our next technology platform we plan to commercialize, is our collagen fiber technology, developed with our patented cross-linking polymers, designed to mimic the natural composition, structure and mechanical properties of musculoskeletal tissues in order to augment their repair. CollaFix™ is the only biological, biodegradable, biomimetic technology that matches human tendon in strength and stiffness.
Safe Harbor Statement
This press release includes statements that look forward in time or that express management's beliefs, expectations or hopes. Such statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to the fact that the PTAB rulings to not grant the customary inter partes reviews are a testimony to the strength MiMedx has created to protect the Company's intellectual property, and the strength of the patents generally. Among the risks and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements include that fact that the PTAB rulings to not grant the customary inter partes reviews may not necessarily authenticate the strength MiMedx has created to protect the Company's intellectual property, and the risk factors detailed from time to time in the Company's periodic Securities and Exchange Commission filings, including, without limitation, its 10-K filing for the fiscal year ended December 31, 2014 and its most recent Form 10Q. By making these forward-looking statements, the Company does not undertake to update them in any manner except as may be required by the Company's disclosure obligations in filings it makes with the Securities and Exchange Commission under the federal securities laws.
SOURCE MiMedx Group, Inc.