AngioDynamics Announces That Court Denies Diomed's Summary Motion for Infringement
In January 2004, Diomed, Inc., a subsidiary of Diomed Holdings, Inc., filed a lawsuit against the Company alleging patent infringement related to AngioDynamics' VenaCure product line. VenaCure is a laser system used for the treatment of severe varicose veins. The lawsuit involves a single U.S. patent, number 6,398,777, covering a specific method of endovascular laser treatment of varicose veins.
"While we are disappointed in the Judge's conclusion regarding the minor issues of validity and unenforceability, we are very pleased with the Court's construction of the patent claims and the views expressed on the issues of infringement. We look forward to successfully resolving this case at trial," commented Eamonn P. Hobbs, president and chief executive officer of AngioDynamics.
About VenaCure
The VenaCure endovascular laser venous system is a patient friendly, minimally invasive alternative for the treatment of severe varicose veins. The VenaCure procedure, which lasts about 45 minutes, offers patients an effective outpatient alternative to surgical ligation and vein stripping. The Company markets and sells the VenaCure laser system throughout the United States.
About AngioDynamics
AngioDynamics, Inc. (www.angiodynamics.com) is a leading provider of innovative medical devices used by interventional radiologists, vascular surgeons and other physicians for the minimally invasive diagnosis and treatment of peripheral vascular disease. AngioDynamics designs, develops, manufactures, and markets a broad line of therapeutic and diagnostic devices that enable interventional physicians, such as interventional radiologists, vascular surgeons and others, to treat peripheral vascular diseases and other non-coronary diseases. The Company's diverse product line includes angiographic products and accessories, dialysis products, vascular access products, PTA products, oncology products, thrombolytic products and venous products.
The statements made in this document contain certain forward-looking statements that involve a number of risks and uncertainties. Words such as "expects," "intends," "anticipates," "plans," "believes," "seeks," "estimates," or variations of such words and similar expressions, are intended to identify such forward-looking statements. Investors are cautioned that actual events or results may differ from the Company's expectations. In addition to the matters described above, the ability of the Company to develop its products, future actions by the FDA or other regulatory agencies, results of pending or future clinical trials, overall economic conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations, competition as well as the risk factors listed from time to time in the SEC filings of AngioDynamics, Inc., including but not limited to its Annual Report on Form 10-K for the year ended June 3, 2006, may affect the actual results achieved by the Company.
CONTACT: AngioDynamics, Inc. Joe Gerardi, 800-772-6446 x115 www.angiodynamics.com or Investor Relations Contacts: Lippert/Heilshorn & Associates, Inc. Kim Sutton Golodetz, 212-838-3777 kgolodetz@lhai.com or Bruce Voss, 310-691-7100 bvoss@lhai.com SOURCE: AngioDynamics, Inc.