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KFx Medical Corporation Receives $29 Million Award and a Finding of Willful Infringement by Arthrex, Inc. in Patent Infringement Case


10/10/2013 6:46:06 AM

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KFx Medical Corporation Receives $29 Million Award and a Finding of Willful Infringement by Arthrex Inc. in Patent Infringement Case

SAN DIEGO--(BUSINESS WIRE)-- KFx Medical Corporation announced that a jury in the United States District Court for the Southern District of California awarded KFx $29 million in its patent infringement case against Arthrex. The jury found that Arthrex willfully infringed the KFx patents by promoting its SutureBridge and SpeedBridge rotator-cuff repair procedures. The jury also upheld the validity of KFx’s patents.

KFx filed a complaint against Arthrex on August 1, 2011, alleging claims of induced and contributory infringement of United States Patent Number 7,585,311 (“the ‘311 Patent”), and later amended the complaint to add related patents.

“We are thankful to the judge, jury, and our attorneys at Knobbe Martens with lead counsel Joe Jennings for their hard and diligent work,” said Tate Scott, president and CEO of KFx. “The protection of patented innovations allows KFx to continue its research and development into products and technology that enhance patient care.”

On August 13, 2013, KFx announced that it had entered into an agreement licensing the ‘311 and related patents, which are used in knotless double row rotator cuff repair. Hundreds of thousands of arthroscopic rotator cuff repairs in the United States utilize the technique to achieve an anatomic reattachment of tendon to bone.

About KFx Medical Corporation

Headquartered in Carlsbad, Calif., KFx Medical Corporation was founded in 2003 to develop products for tissue fixation in a variety of orthopedic surgical procedures performed on the shoulder, knee, foot, and ankle. KFx provides simple systems for orthopedic surgeons focused on sports medicine. The new AppianFx line of implants from KFx reattach tissue to and in bone in shoulder, knee, foot and ankle procedures which combined exceed well over 1 million annual surgical procedures in the United States. Product offerings include those that directly place and secure tissue into bone both with and without the use of sutures.

The company is privately held — Investors include Alloy Ventures, Charter Life Sciences, Arboretum Ventures, Montreux Equity Partners, and MB Venture Partners.

Contact:

KFx Medical Corporation

Tate Scott, 760-444-8820

President & CEO

Tate.Scott@kfxmed.com

www.kfxmed.com

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