TSX VENTURE: NVC
VANCOUVER, June 6, 2014 /CNW/ - Neovasc Inc. ("Neovasc" or the
"Company") (NASDAQ: NVCN) (TSXV: NVC) has today been made aware of a
lawsuit filed by CardiAQ Valve Technologies in the U.S. District Court
for the District of Massachusetts including certain allegations
relating to Neovasc's transcatheter mitral valve technology, including
the Tiara™ device.
The complaint has not yet been served on the Company. If CardiAQ does
serve the complaint, Neovasc intends to vigorously defend itself.
Based on its understanding of the unproven allegations, the Company
believes the lawsuit to be groundless and without merit.
About Neovasc Inc.
Neovasc is a specialty medical device company that develops,
manufactures and markets products for the rapidly growing
cardiovascular marketplace. Its products include the Tiara™ technology
in development for the transcatheter treatment of mitral valve disease,
the Neovasvc Reducer™ for the treatment of refractory angina and a line
of advanced biological tissue products that are used as key components
in third-party medical products including transcatheter heart valves.
For more information, visit: www.neovasc.com.
Statements contained herein that are not based on historical or current
fact, including without limitation statements containing the words
"anticipates," "believes," "may," "continues," "estimates," "expects,"
and "will" and words of similar import, constitute "forward-looking
statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 and Canadian securities laws. Such
forward looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
events or developments to be materially different from any future
results, events or developments expressed or implied by such
forward-looking statements. Such factors include, among others, the
following: general economic and business conditions, both nationally
and in the regions in which the Company operates; the merits and the
Company's defence of the lawsuit filed by CardiAQ, listing of the
Company's securities on the TSX, our anticipated use of proceeds from
any financings, a history of losses and lack of and uncertainty of
revenues, ability to obtain required financing, receipt of regulatory
approval of product candidates, ability to properly integrate newly
acquired businesses, technology changes; competition; changes in
business strategy or development plans; the ability to attract and
retain qualified personnel; existing governmental regulations and
changes in, or the failure to comply with, governmental regulations;
liability and other claims asserted against the Company; and other
factors referenced in the Company's filings with Canadian securities
regulators. Although the Company believes that expectations conveyed by
the forward-looking statements are reasonable based on the information
available to it on the date such statements were made, no assurances
can be given as to the future results, approvals or achievements. Given
these uncertainties, readers are cautioned not to place undue reliance
on such forward-looking statements. The Company does not assume the
obligation to update any forward-looking statements except as otherwise
required by applicable law.
SOURCE: Neovasc Inc.
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