SAN DIEGO, Sept. 20 /PRNewswire-FirstCall/ -- Volcano Corporation today said that it believes the patent infringement claims brought against the company by St. Jude Medical Systems AB and its affiliated companies are without merit. In a filing made today in the United States District Court for the District of Delaware, Volcano denies allegations that its PrimeWire(R) products infringe any valid claim of St. Jude's asserted patents. Moreover, as described in detail in its answer, Volcano believes that two of the asserted St. Jude patents are unenforceable because they were obtained through acts of fraud on the United States Patent and Trademark Office (USPTO). Specifically, Volcano believes that the individuals involved in securing these two patents knowingly withheld from the USPTO a patent describing the pioneering work of scientists at Volcano's predecessor company, Cardiometrics, Inc.
In addition, Volcano has alleged that St. Jude's PressureWire (R) products and its RadiAnalyzer(R) Xpress product infringe three Volcano patents. In its counterclaim, Volcano is seeking injunctive relief and monetary damages. Volcano intends to demonstrate that St. Jude has adopted Volcano's technology to enable it to compete in the rapidly expanding sensor-equipped guide wire field.
"Volcano believes that it, not St. Jude or Radi Medical, has led the way in Fractional Flow Reserve (FFR) technology by developing the first guide wires to incorporate a solid state pressure sensor, the WaveWire(R). Volcano's predecessor company was also the first to introduce a guide wire containing a solid state sensor for measuring intravascular flow rates, the FlowWire(R). Volcano believes that the Cardiometrics patents and Volcano's related innovative products render St. Jude's asserted claims invalid," said Scott Huennekens, chief executive officer of Volcano.
"As the innovator of these guide wire technologies, Volcano intends to set the historical record straight and will vigorously defend against St. Jude's claims. Volcano respects the intellectual property rights of its competitors and expects them do to the same," he added.
About Volcano Corporation
Volcano Corporation is revolutionizing the medical device industry with a broad suite of technologies that make imaging and therapy simpler, more informative and less invasive. Our products empower physicians around the world with a new generation of analytical tools that deliver more meaningful information—using sound and light as the guiding elements. Founded in cardiovascular care and expanding into other specialties, Volcano is changing the assumption about what is possible in improving patient outcomes by combining imaging and therapy together. For more information, visit the company's website at www.volcanocorp.com.
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this news release regarding the litigation with St. Jude that are not historical facts may be considered "forward-looking statements," including statements relating to the claims and counterclaims alleged in the litigation, and potential impact of such litigation. Forward-looking statements are subject to risks and uncertainties, which may cause Volcano's results to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ from the results predicted are detailed in the company's annual report on Form 10-K, quarterly reports on Form 10-Q, and other filings made with the Securities and Exchange Commission (SEC), including the current report on Form 8-K filed with the SEC on September 13, 2010. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Volcano undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances after the date they were made, or to reflect the occurrence of unanticipated events.
|SOURCE Volcano Corporation|
Copyright©2010 PR Newswire.
All rights reserved