Conor Medsystems Announces Decision From U.K. Court of Appeal
January 16 2007 - 8:46AM
PR Newswire (US)
Decision Upholds Ruling Invalidating Angiotech Patent on Paclitaxel
Coated Stents MENLO PARK, Calif., Jan 16 /PRNewswire-FirstCall/ --
Conor Medsystems, Inc. (NASDAQ:CONR) announced that the Court of
Appeal in the United Kingdom today unanimously upheld the decision
of the High Court of Justice to revoke the UK portion of European
Patent (EP) 0 706 376 B1 to Angiotech Pharmaceuticals, Inc. The
patent is exclusively licensed to Boston Scientific Corporation for
use in the field of coronary stents. On February 18, 2005, Conor
Medsystems initiated proceedings against Angiotech and the
University of British Columbia in the High Court of Justice in the
United Kingdom requesting that the court invalidate EP 0 706 376 B1
based on the grounds that all claims of the patent either lack
novelty or are obvious in light of the state of scientific
knowledge at the priority date of the patent. On February 24, 2006,
the High Court of Justice rendered its decision that the patent is
invalid based on the grounds that the patent was obvious in light
of the state of scientific knowledge at the priority date of the
patent. On May 31, 2006, Angiotech appealed the decision to the
U.K. Court of Appeal. On January 16, 2007 the Court of Appeal
dismissed the appeal. Conor Medsystems develops innovative
controlled vascular drug delivery technologies, and has primarily
focused on the development of drug-eluting stents to treat coronary
artery disease. For further information on Conor Medsystems and
controlled vascular delivery, visit http://www.conormed.com/.
DATASOURCE: Conor Medsystems, Inc. CONTACT: Michael Boennighausen,
Chief Financial Officer of Conor Medsystems, Inc., +1-650-614-4100
Web site: http://www.conormed.com/
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