SINGAPORE, Nov. 18, 2016 /PRNewswire/ -- QT Vascular Ltd. (the "Company" or "QT Vascular", and together with its subsidiaries, the "Group"), is a global company engaged in the design, assembly and distribution of advanced therapeutic solutions for the minimally invasive treatment of vascular disease. Further to the Company's announcements of 29 April 2015, 2 July 2015 and 8 July 2015 and media release of 4 May 2015, 20 September 2015, 26 November 2015, 11 February 2016 and 25 July 2016, the Board of Directors of the Company is pleased to provide an update in its litigation with AngioScore, Inc. ("AngioScore") (now owned by Spectranetics Corporation (NASDAQ: SPNC)).
On 8 November 2016, the United States Court of Appeals for the Federal Circuit (the "Federal Circuit") denied AngioScore's petition for rehearing of the case en banc, and issued a revised opinion. The 8 November 2016 revised opinion made certain changes to the language of the previous 21 July 2016 opinion, but reached the same judgment dated 21 July 2016 of reversing the district court's damages award and ordering the district court to dismiss claims of breach of fiduciary duty, aiding and abetting the breach and unfair competition (the "State Law Claims").
The opinion on 8 November 2016, a third win for the Group at the Federal Circuit this year, leaves unchanged the 21 July 2016 judgement that Chocolate® PTA does not infringe any of the asserted claims of United States Patent No. 7,691,119 ("'119 patent") and that all asserted claims of the '119 patent by AngioScore are invalid as obvious over the prior art.
About QT Vascular Ltd. (SGX Stock code: 5I0)
QT Vascular Ltd. together with its subsidiaries ("QT Vascular" or the "Group"), is an emerging leader in the development and commercialization of next generation minimally invasive products for the treatment of complex vascular disease. QT Vascular works closely with leading physicians and scientists from around the world to create differentiated devices that improve procedural and clinical outcomes.
QT Vascular is based in Singapore with a US subsidiary, TriReme Medical LLC ("TriReme Medical"), based in Pleasanton, California. TriReme Medical's range of percutaneous transluminal angioplasty ("PTA") and percutaneous transluminal coronary angioplasty ("PTCA") products include (i) Chocolate® PTA Balloon Catheter, (ii) Chocolate® PTCA Balloon Catheter, (iii) GliderXtreme PTA Balloon Catheter, (iv) GliderfleX® PTA Balloon Catheter and (v) Glider PTCA Balloon Catheter, all of which have the CE mark that allows them to be sold in Europe, and FDA clearance to be sold in the United States. Additionally, the GliderXtreme PTA Balloon Catheter has the regulatory clearance in China and Japan, while the Glider PTCA Balloon Catheter has the regulatory clearance in Japan. These products are sold by the Group's direct sales team and through its main distributors: (i) Cordis Corporation (a wholly-owned subsidiary of Cardinal Health, Inc.), (ii) Shandong Weigao Group Medical Polymer Co Ltd and (iii) Century Medical, Inc.
The Group's drug coated version of the Chocolate® PTA Balloon Catheter, Chocolate Touch®, and the Chocolate® PTCA Balloon Catheter, Chocolate Heart, have the CE mark that allows them to be sold in Europe.
For more information, please visit the company website at www.qtvascular.com
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SOURCE QT Vascular Ltd.