Court Sets Hearing Date for Diomed Preliminary Injunction Against Total Vein Solutions
January 14 2008 - 12:51PM
Business Wire
Diomed Holdings, Inc. (AMEX: DIO - News), a leading developer and
marketer of minimally invasive medical technologies, including its
patented EndoVenous Laser Treatment (EVLT(R)) for varicose veins,
today announced that the court has set January 18, 2008 as the date
to hear Diomed�s request for a preliminary injunction against Total
Vein Solutions in its continuing efforts to enforce its U.S. Patent
Number 6,398,777 covering the endovascular laser treatment of
varicose veins. Diomed commenced legal action in the U.S. Federal
District Court for the District of Massachusetts against Total Vein
Solutions seeking injunctive relief and damages for infringement of
Diomed's '777 patent in 2004. In a separate 2006 hearing against
defendants AngioDynamics, Inc. and Vascular Solutions, Inc., Judge
Gorton of the same Federal District Court ruled that Diomed's '777
patent is both valid and enforceable. In the trial ending on March
28, 2007, the jury found the defendants liable for both inducing
infringement and contributory infringement of Diomed's patent.
Judge Gorton subsequently granted Diomed a permanent injunction
against both defendants and awarded Diomed a total of $14.7 million
in damages. "We have been pleased with the court�s previous rulings
which prohibit two of our competitors from selling their infringing
lasers and disposable products," said James A. Wylie, President and
CEO of Diomed. "Now that the court has found Diomed's patent to be
valid and enforceable and a jury has found competing contact-based
laser fiber systems to infringe, we believe that an immediate
injunction of Total Vein Solutions' sales of such infringing
products would be timely and appropriate." About Diomed Diomed
develops and commercializes minimal and micro-invasive medical
procedures that use its proprietary laser technologies and
disposable products. Diomed's EVLT(R) laser vein ablation procedure
is used in varicose vein treatments. Diomed also provides
photodynamic therapy (PDT) for use in cancer treatments, and dental
and general surgical applications. The EVLT(R) procedure and the
Company's related products were cleared by the United States FDA in
January of 2002. Along with lasers and single-use procedure kits
for its EVLT(R) laser vein treatment, the Company provides its
customers with state of the art physician training and practice
development support. Additional information is available on the
Company's website: www.evlt.com. EVLT(R) is a registered trademark
of Diomed Inc., Andover, MA. Safe Harbor Safe Harbor statements
under the Private Securities Litigation Reform Act of 1995:
Statements in this news release looking forward in time involve
risks and uncertainties, including the risks associated with trends
in the products markets, reliance on third party distributors in
various countries outside the United States, reoccurring orders
under OEM contracts, market acceptance risks, technical development
risks and other risk factors. These statements relate to our future
plans, objectives, expectations and intentions. These statements
may be identified by the use of words such as "may," "will,"
"should," "potential," "expects," "anticipates," "intends,"
"plans," "believes" and similar expressions. These statements are
based on our current beliefs, expectations and assumptions and are
subject to a number of risks and uncertainties. Our actual results
could differ materially from those discussed in these statements.
Our 2006 Annual Report on Form SEC 10-KSB (the "Annual Report")
contains a discussion of certain of the risks and uncertainties
that affect our business. We refer you to the "Risk Factors" on
pages 19 through 34 of the Annual Report for a discussion of
certain risks, including those relating to our business as a
medical device company without a significant operating record and
with operating losses, our risks relating to our commercialization
of our current and future products and applications and risks
relating to our common stock and its market value. Diomed disclaims
any obligation or duty to update or correct any of its
forward-looking statements.
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