No More Patent Drama Between Neovasc and Edwards?

The mitral valve patent dispute between Neovasc and Edwards Lifesciences’ CardiAQ subsidiary has been settled. Vancouver-based Neovasc said it had resolved the three claims of correction of patent inventorship made by Edwards Lifesciences. These patents are related to the Tiara, a self-expanding mitral bioprosthesis specifically designed to treat mitral valve regurgitation. For reasons of efficiency and economy, and without reaching the merits of the dispute, the parties agreed to a judgment ordering CardiAQ's Jeremy Brent Ratz and Arshad Quadri be added as co-inventors of U.S. Patent No. 9,241,790, U.S. Patent No. 9,248,014 and U.S. Patent No. 9,770,329, which the Court ordered. Each of these patents is directly related to and claims priority to the patent application that led to U.S. Patent No. 8,579,964, on which the Court had previously added Ratz and Dr. Quadri as co-inventors in November, 2016. Settlement specifics include, each side agreeing to bear their own fees and costs; no money damages awarded; and non-restriction of Neovasc from practicing these patents going forward. "We have been working diligently to clear [Neovasc] from a number of claims and the conclusion of this matter is also the conclusion of the last active claims that the company is aware of," commented Fred Colen, Neovasc CEO. "The German Appeals Court win provided us with further strategic options to resolve these claims and we have maintained the rights to practice our entire Tiar...
Source: MDDI - Category: Medical Devices Authors: Tags: Cardiovascular Source Type: news