SAN DIEGO, Feb. 13 /PRNewswire-FirstCall/ -- CryoCor, Inc. , a medical device company focused on the treatment of cardiac arrhythmias, announced today that the United States Patent and Trademark Office (USPTO) has declared a patent interference between a patent application exclusively licensed by CryoCor and two patents held by CryoCath Technologies Inc. A patent interference is an administrative proceeding within the USPTO to establish which party was the first to invent certain subject matter and, therefore, should have patent rights to the technology. The patent interference is related to certain pre-cooling technologies that CryoCor considers important to CryoCath's cryoablation system.
The USPTO designated CryoCor to be the senior party in the interference as its patent application was found to predate CryoCath's original patent applications. In an interference proceeding, the burden of proof is on the junior party (in this case, CryoCath) to establish an earlier date of invention. The interference dispute will be determined by the Board of Patent Appeals and Interferences and presided over by an Administrative Patent Judge. The proceedings are scheduled to begin in March 2008 and the Company expects a final judgment to be made in 2009. CryoCor reported that a second interference, also in the field of pre-cooling, is anticipated to be declared by the USPTO in the first half of 2008.
Ed Brennan, Ph.D., President and Chief Executive Officer of CryoCor, said, "We are very pleased with USPTO's decision to grant CryoCor's request to declare this interference, and we anticipate a second interference between CryoCor and CryoCath to be declared in the near future. We believe we have broad coverage in our patent portfolio covering pre-cooling, which we consider important for a cryoablation system. These patent interferences are an important part of our strategy to secure our intellectual property position in the field of cryoablation."
CryoCor is a medical technology company that has developed and manufactures a disposable catheter system based on its proprietary cryoablation technology for the minimally invasive treatment of cardiac arrhythmias. The Company's product, the CryoCor Cardiac Cryoablation System, or the Cryoablation System, is designed to treat cardiac arrhythmias through the use of cryoenergy, or extreme cold, to destroy targeted cardiac tissue. The Cryoablation System has been approved in Europe for the treatment of atrial fibrillation, and atrial flutter, the two most common and difficult to treat arrhythmias, since 2002. In the United States, CryoCor is conducting a pivotal trial to evaluate the safety and efficacy of the Cryoablation System for the treatment of atrial fibrillation and the Cryoablation System has been approved for the treatment of right atrial flutter. For more information please visit the Company's website at http://www.cryocor.com.
Forward Looking Statements
The statements in this press release that are not descriptions of historical facts are forward-looking statements that are subject to risks and uncertainties. These include statements related to the merits of CryoCor's positions in its interference proceedings with CryoCath and the possible outcome of those proceedings, the likelihood of a second interference being declared and the value of pre-cooling technology in a cryoablation system, and specifically, CryoCath's cryoablation system, all of which are prospective. Such statements are only predictions and reflect CryoCor's expectations and assumptions as of the date of this press release based on currently available operating, financial, and competitive information. The actual events or results may differ materially from those projected in such forward-looking statements due to a number of factors, including risks involved with CryoCor's technology; risks associated with the Company's dependence on patents and proprietary rights; risks associated with the Company's protection and enforcement of its patents and proprietary rights; risks associated with the development or availability of competitive products or technologies and the other risks and uncertainties identified in the Company's filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The Company expressly disclaims any intent or obligation to update any of these forward-looking statements.
CONTACT: Gregory J. Tibbitts, Chief Financial Officer of CryoCor, Inc.,
+1-858-909-2200, firstname.lastname@example.org; or investors, Nick Laudico,
+1-646-536-7030, email@example.com, or Zack Kubow, +1-646-536-7020,
firstname.lastname@example.org; or media, Jason Rando, +1-646-536-7025,
email@example.com; all of The Ruth Group for CryoCor, Inc.
Web site: http://www.cryocor.com/