KNOXVILLE, Tenn., Feb. 28 /PRNewswire-FirstCall/ -- CTI Molecular Imaging, Inc. , a leading provider of positron emission tomography (PET) equipment, molecular probes and services, today announced that the U.S. District Court for the Eastern District of Tennessee recently issued an order granting summary judgment in favor of the company and CTI PET Systems, Inc. (which does business as CPS Innovations) as defendants in a patent infringement case brought by the Board of Regents, The University of Texas System and M.D. Anderson Cancer Center v. CTI Molecular Imaging, Inc., CTI, Inc., and CTI PET Systems, Inc.
In the court's order issued on February 15, 2005, the district court granted the company's and CPS Innovations' motion for summary judgment on non- infringement of patents held by the University of Texas System and also denied the plaintiffs' motion for summary judgment of infringement by the plaintiffs. The court's order operates as a complete dismissal of all of the claims brought by the Board of Regents, The University of Texas System and M.D. Anderson Cancer Center.
In commenting on the favorable outcome, Ronald Nutt, Ph.D., President and Chief Executive Officer of CTI, stated, "We are very pleased with the decision by the trial court. CTI has consistently maintained that our patented detector block design does not infringe upon the patents issued to the University of Texas System and the ruling by the trial court is a complete vindication of our position."
About CTI Molecular Imaging:
CTI Molecular Imaging, Inc. is a leading supplier of products and services for positron emission tomography (PET), a diagnostic imaging technology used in the detection and treatment of cancer, neurological disorders and cardiac disease. Additional information is available at: http://www.ctimi.com/ .
About PET and PET/CT:
PET images the biology of diseases at the molecular level, often before anatomic changes are visible or, in some cases, before symptoms appear. Diseases are biological processes and it is these processes that PET examines. PET/CT is an imaging technology that combines the biological examination of patients by PET with the CT images of the body's structural detail. PET/CT technology improves the diagnostic accuracy and treatment management of patients by providing surgeons, radiation oncologists and other physicians with precise anatomical landmarks associated with the disease condition as determined by PET.
PET's whole-body imaging capability helps physicians improve their ability to detect and determine the location, extent and stage of cancer, neurological disorders and cardiac disease. By improving diagnosis, PET scans aid physicians in selecting better courses of treatment, as well as assessing whether treatment is effective or should be changed. Recent published clinical trials have shown that in a wide array of cancers, the use of PET has caused the treatment to be changed for 15 to 50% of patients, depending on the specific clinical question. In addition, PET and PET/CT provide both the
patient and their physician with a degree of certainty that is often unavailable through other imaging methods.
Certain matters discussed in this press release and the related conference call constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by words such as "believe," "expect," "anticipate," "intend," "estimate" or similar expressions. CTI undertakes no obligation to update or revise any forward-looking statements. Further information regarding risks, uncertainties and other factors that could adversely affect CTI or cause actual results to differ materially from those anticipated in forward-looking statements are included in CTI's Annual Report on Form 10-K for the fiscal year ended September 30, 2004 and Quarterly Report on Form 10-Q for the quarter ended December 31, 2004.
CTI Molecular Imaging, Inc.