ArthroVision Terminates Patent Dispute With Chondrometrics GmbH
Published: Jul 13, 2009
MONTREAL, QUEBEC--(Marketwire - July 13, 2009) - ArthroVision Inc., wholly owned subsidiary of Horizon Sciences and Technologies Inc., announces that it has terminated the German patent dispute with Chondrometrics GmbH and its director Dr. Felix Eckstein involving ArthroVision's European Patent EP 1 230 561.
ArthroVision conducted proceedings against Chondrometrics and Dr. Eckstein in Germany, alleging that the use of the software "Chondrometrics_Work" would infringe its patent EP 1 230 561 relating to a system and process for monitoring progression of Osteoarthritis and other bone/cartilage diseases. Chondrometrics then filed a nullity action against the German part of ArthroVision's patent. The District Court of Munich ruled in first instance that the Chondrometrics' software would not infringe ArthroVision's patent rights. ArthroVision had filed an appeal against this decision that it strongly disagrees with.
ArthroVision decided to terminate the dispute with Chondrometrics in order to avoid further time and effort. Consequently, ArthroVision has withdrawn the appeal in the infringement proceedings and terminated the nullity proceedings with the consent of Chondrometrics, after ArthroVision waived its patent rights to the German part of EP 1 230 516. Also, ArthroVision became aware of a recent study of the University of Pittsburgh, USA, which leads to the conclusion that the technique of manual segmentation, which is allegedly applied by Chondrometrics, is significantly less efficient and reproducible than a semi-automated method.
About Horizon Sciences & Technologies and ArthroVision Inc.
Horizon Sciences & Technologies Inc., a Canadian biopharmaceutical company located in Montreal, Quebec, Canada, is involved, in collaboration with its partners, in the discovery and development of new and innovative technologies for the prevention, the diagnosis and the treatment of osteoarthritis. Its subsidiary, ArthroVision Inc., a Montreal, Quebec, based company, is engaged in the research and development of imaging technology to assess the effect of therapeutics in the treatment of osteoarthritis. ArthroVision has developed imaging systems that allow the precise measurement and quantification of cartilage from magnetic resonance images (MRIs) and the tracking of cartilage degradation over time. These technologies represent a breakthrough for osteoarthritis research. ArthroVision has extensive expertise in conducting clinical trials for the assessment of the efficacy of new drugs and compounds that aim at reducing the progression of osteoarthritis.
This press release contains "forward looking information" (as defined in applicable Canadian securities legislation) that are based on expectations, estimates and projections as of the date of this press release. Often, but not always, such forward looking information can be identified by the use of forward looking words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking information in this press release. Examples of such forward looking information in this press release include, but are not limited to, factors relating to the possible appeal of first instance judgment of the Munich District Court, which is subject to significant risks and uncertainties, including the possibility that Court of Appeal may not find in favour of AthroVision Inc. Actual results are likely to differ, and may differ materially, from those expressed or implied by the forward looking information contained in this press release. There can be no assurance that forward looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information.
Horizon Sciences & Technologies inc.
Bertrand Masse, CA
Chief Financial Officer
514-890-8000 ext. 28915