Neovasc Shares Court in Case Against Edwards Lifesciences

Neovasc (NASDAQ:NVCN; TSX:NVCN) reported today the District Court in Munich, Germany has “partially found in favor” for Edwards Lifesciences Corporation in its case against Neovasc.
As quoted in the press release:

In this case, CardiAQ had claimed ownership rights to one of Neovasc’s European patent applications for its Tiara™ mitral valve replacement technology. The German court found CardiAQ had contributed in part to the invention of the Tiara™ and awarded to CardiAQ co-entitlement rights to the disputed Tiara™ European patent application.  There are no monetary awards associated with this matter.  Neovasc intends to appeal this decision.
In a related matter, Neovasc is currently appealing the 2016 decision from the U.S District Court for the District of Massachusetts which among other things granted co-inventorship rights to CardiAQ on one of Neovasc’s granted U.S. patent applications.  This appeal is now before the United States Court of Appeals for the Federal Circuit in Washington D.C.  An expedited appeal schedule has been set with all the briefings from both parties now submitted. The Company expects oral argument on its appeal in August 2017 and a ruling is expected to follow, prior to the end of 2017.

Click here to read the full press release.

Source: www.newswire.ca