Diomed (AMEX:DIO)
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Diomed Holdings, Inc. (AMEX: DIO),
a leading developer and marketer of minimally invasive medical
technologies, including its patented EndoVenous Laser Treatment (EVLT®)
for varicose veins, today announced that the United States Federal
District Court for the District of Massachusetts has set a hearing date
on December 8, 2006 to establish a trial date for its ‘777
patent litigation against its primary competitors AngioDynamics and
Vascular Solutions, Inc.
In January 2004, Diomed commenced legal action in the against
AngioDynamics, seeking injunctive relief and damages for infringement of
Diomed's pioneering United States Patent Number 6,398,777 which covers
the endovascular laser treatment of varicose veins. Diomed acquired
exclusive rights to the patent from the five inventors of the procedure
in September 2003. Diomed initiated similar actions against Vascular
Solutions and two other competitors later in 2004.
Earlier this year U.S. District Judge Nathaniel M. Gorton ruled that
Diomed's U.S. Patent No. 6,398,777 is both valid and enforceable. In
granting Diomed's motion for summary judgment, the court rejected
defenses advanced by defendants AngioDynamics and Vascular Solutions
that Diomed's patent was invalid and unenforceable. The court denied
separate motions by each of the parties for summary judgment on the
issue of infringement by the defendants, in effect ruling that Diomed is
entitled to proceed to trial on its claims for an injunction and damages
against the defendants.
"We are very pleased to have a firm date to schedule the trial," stated
James A. Wylie, Jr., President and Chief Executive Officer of Diomed
Holdings, Inc. "We are very much looking forward to the successful
conclusion to this important litigation."
About Diomed
Diomed develops and commercializes minimal and micro-invasive medical
procedures that use its proprietary laser technologies and disposable
products. Diomed’s EVLT®
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®
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®
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® is a registered trademark of Diomed
Inc., Andover, MA.
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 Annual Report on Form SEC
10-KSB/A (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 23 through 38 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.
Diomed Holdings, Inc. (AMEX: DIO), 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 United States Federal District Court for the
District of Massachusetts has set a hearing date on December 8, 2006
to establish a trial date for its '777 patent litigation against its
primary competitors AngioDynamics and Vascular Solutions, Inc.
In January 2004, Diomed commenced legal action in the against
AngioDynamics, seeking injunctive relief and damages for infringement
of Diomed's pioneering United States Patent Number 6,398,777 which
covers the endovascular laser treatment of varicose veins. Diomed
acquired exclusive rights to the patent from the five inventors of the
procedure in September 2003. Diomed initiated similar actions against
Vascular Solutions and two other competitors later in 2004.
Earlier this year U.S. District Judge Nathaniel M. Gorton ruled
that Diomed's U.S. Patent No. 6,398,777 is both valid and enforceable.
In granting Diomed's motion for summary judgment, the court rejected
defenses advanced by defendants AngioDynamics and Vascular Solutions
that Diomed's patent was invalid and unenforceable. The court denied
separate motions by each of the parties for summary judgment on the
issue of infringement by the defendants, in effect ruling that Diomed
is entitled to proceed to trial on its claims for an injunction and
damages against the defendants.
"We are very pleased to have a firm date to schedule the trial,"
stated James A. Wylie, Jr., President and Chief Executive Officer of
Diomed Holdings, Inc. "We are very much looking forward to the
successful conclusion to this important litigation."
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 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
Annual Report on Form SEC 10-KSB/A (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 23 through 38 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.