www.cryocath.com Toronto Stock Exchange Symbol: CYT
MONTREAL, Feb. 14 /CNW/ - CryoCath(R) Technologies Inc., the global
leader in cryotherapy products to treat cardiac arrhythmias, today provided an
update on the enforcement of its patent portfolio.
Since its inception 13 years ago CryoCath has been, and continues to be
the clear leader in innovation in the field of cryotherapy devices with
cardiac applications and will continue to vigorously enforce its patent
rights. CryoCath owns over 100 issued patents world-wide and has more than 100
patent applications pending. In the last five years, CryoCath has filed over
140 patent applications. Many of CryoCath's pending applications are expected
to issue between 2008 and 2010, continuing to strengthen CryoCath's
intellectual property position.
In October 2007, CryoCath filed a U.S. patent infringement suit against
CryoCor, Inc. alleging infringement of six patents. Since that time, the
United States Patent and Trademark Office (USPTO) has issued CryoCath two
additional patents, U.S. Patent Nos. 7,303,554 and 7,318,821. CryoCath will
amend its complaint to assert these patents in this patent infringement suit.
In early February 2008, CryoCath also filed a claim against CryoCor,
alleging infringement of a ninth CryoCath patent, U.S. Patent No. 5,147,355
entitled "Cryoablation Catheter and Method for Performing Cryoablation" issued
to Friedman. Additionally CryoCath believes CryoCor and co-plaintiff AMS
Research Corporation assert AMS's patents in their January 2008 action against
CryoCath in a manner that illegally extends at least one patent beyond its
scope. Therefore, CryoCath filed counterclaims alleging patent misuse,
antitrust, and unfair competition. CryoCath believes CryoCor's case is without
merit, and that it does not infringe the two patents asserted in the January
2008 action or the foreign counterparts.
Last month, the USPTO declared an Interference to determine the first to
invent certain pre-cooling technology. By declaring the Interference, the
USPTO allows CryoCath to get involved and present evidence to demonstrate
CryoCath's priority to the technology. The USPTO operates under a system of
"first-to-invent" rather than "first-to-file". Therefore, CryoCath now has the
opportunity to present evidence that will establish it was indeed
first-to-invent the pre-cooling technology at issue in the Interference and
claimed in a subset of claims in the two CryoCath patents.
CryoCath's two patents at issue in the Interference, also asserted in the
October 2007 action, claim priority to an application filed in January 1999.
Consistent with the process of innovation, CryoCath invented this technology
before it filed its January 1999 application and well before the August 2000
filing date relied on by CryoCor in requesting the Interference. CryoCath
believes the USPTO will resolve the Interference in its favor.
CryoCath believes its strong infringement position for all six of its
patents presently asserted, its two new patents that will be asserted in the
October 2007 action, and its Friedman patent asserted in February 2008, will
effectively protect CryoCath's business interests. CryoCath is also confident
that the USPTO will conclude from CryoCath's participation in the Interference
that CryoCath was the first to invent the technology at issue.
"Our team at CryoCath has worked long and hard to successfully build a
strong intellectual property portfolio, creating the foundation on which our
success is built," said Jan Keltjens, President and CEO of CryoCath. "We will
defend our company's and stakeholders interests vigorously. Resolution of the
ongoing dispute may take several years. We expect them to be resolved
completely to our satisfaction and that CryoCath's leading efforts to create
and commercialize our unique and innovative technology and to enforce our
substantial intellectual property covering that technology will be fully
CryoCath - www.cryocath.com - is a medical technology company that leads
the world in cryotherapy products to treat cardiac arrhythmias. With a
priority focus on providing physicians with a complete solution of catheter
products to treat cardiac arrhythmias, CryoCath has multiple products approved
in the U.S., across Europe and several ROW countries. The Company is
developing additional products to expand its pipeline of products to treat
This press release includes "forward-looking statements" that are subject
to risks and uncertainties, including with respect to the timing of regulatory
trials and their outcome. For information identifying legislative or
regulatory, economic, climatic, currency, technological, competitive and other
important factors that could cause actual results to differ materially from
those anticipated in the forward looking statements, see CryoCath's annual
report available at www.sedar.com under the heading Risks and Uncertainties in
the Management's Discussion and Analysis section.
For further information:
For further information: visit our website at www.cryocath.com, or
contact: Michael Moore, Investor Relations, Phone: (416) 815-0700 ext. 241,
Fax: (416) 815-0080, E-mail: firstname.lastname@example.org