September 26, 2008 - CryoCath Technologies Inc. announced yesterday it has resolved all outstanding patent suits among the company and Boston Scientific Corp., its wholly-owned subsidiary, CryoCor Inc., and CryoCor's co-plaintiff/co-defendant AMS Research Corp.
The companies have agreed to terminate several court actions pending involving cryoablation systems in the U.S. and Canada and an International Trade Commission investigation.
As part of the settlement, the companies have agreed to mutual covenants that provide for all of the existing litigation to be withdrawn and an agreement by all parties not to bring suit against each other over the next twelve years in regard to certain other cryoablation-related intellectual property.
According to the terms of the resolution, CryoCath has agreed to the payment of royalties on certain future products for a limited time. The companies have also agreed to permit the two Interference proceedings pending with the U.S. Patent and Trademark Office Board of Patent Appeals and Interferences to proceed, but regardless of the outcome, the surviving patent(s) will be subject to the covenants not to sue.
For more information: www.cryocath.com