AngioDynamics plans to appeal patent verdict
AngioDynamics announced it will appeal the jury verdict returned in favor of Diomed, Inc. in a trial for patent infringement brought in the Federal District Court in Boston, Mass.
Diomed filed a lawsuit in January 2004, asserting infringement of U.S. patent No. 6,398,777 by AngioDynamics' VenaCure product line, a laser system used for the treatment of severe varicose veins. The jury found infringement was not willful. In conjunction with the verdict, Diomed was awarded compensatory monetary damages in the amount of $8.36 million.
AngioDynamics will be filing its motion to overturn the verdict within 10 days, and, if denied, an appeal will be promptly filed in the U.S. Court of Appeals for the Federal Circuit in Washington, D.C. AngioDynamics noted that, regardless of the final outcome of the lawsuit, the Company anticipates that it will be fully indemnified pursuant to the terms of the Company's supply and distribution agreement with its laser system sub-supplier.
Diomed filed a lawsuit in January 2004, asserting infringement of U.S. patent No. 6,398,777 by AngioDynamics' VenaCure product line, a laser system used for the treatment of severe varicose veins. The jury found infringement was not willful. In conjunction with the verdict, Diomed was awarded compensatory monetary damages in the amount of $8.36 million.
AngioDynamics will be filing its motion to overturn the verdict within 10 days, and, if denied, an appeal will be promptly filed in the U.S. Court of Appeals for the Federal Circuit in Washington, D.C. AngioDynamics noted that, regardless of the final outcome of the lawsuit, the Company anticipates that it will be fully indemnified pursuant to the terms of the Company's supply and distribution agreement with its laser system sub-supplier.