Angiotech wins before the UK House of Lords
10 Juli 2008 - 5:34PM
PR Newswire (US)
VANCOUVER, July 10 /PRNewswire-FirstCall/ -- Angiotech
Pharmaceuticals, Inc. (NASDAQ:ANPINASDAQ:TSX:NASDAQ:ANP), a global
specialty pharmaceutical and medical device company, announced that
yesterday, the highest court of the United Kingdom, the House of
Lords, confirmed in a precedent-setting decision the validity of
one of Angiotech's patents related to its paclitaxel stent
inventions. As Lord Neuberger of Abbotsbury, commented, "The
decision represents a significant development in the United Kingdom
patent law". "We are pleased that the House of Lords entered final
judgment in Angiotech's favor and view this outcome as further
proof of the continued strength of our paclitaxel stent patent
portfolio throughout the world," said Dr. Bill Hunter, President
and CEO of Angiotech. "We remain committed to vigorously protecting
our proprietary technologies and defending our intellectual
property, and reaching supportive conclusion on this decision
reaffirms this commitment," added Dr. Hunter. The patent at issue
was granted to Angiotech Pharmaceuticals Inc. by the European
Patent Office (the "EPO") on June 25, 1997. At the EPO, five
different companies opposed the patent. After over nine years of
legal battles their challenge proved unsuccessful and the validity
of the patent was maintained. On February 1, 2005, Angiotech
commenced suit against Conor Medsystems Inc. ("Conor") in the
Netherlands. Conor responded by commencing proceedings in the UK to
revoke the patent. Conor argued that, as of July 1993 (the priority
date), the claims in the patent lacked inventive step (i.e., were
obvious) under UK law. Both the UK trial court and the UK Court of
Appeal decided that the patent was invalid in view of several
publications. Within the same time frame several courts in the
Netherlands, following the approach of the EPO and concluded that
Angiotech's claimed invention was inventive and not obvious in view
of the same publications. Angiotech appealed the UK lower court
decisions to the House of Lords seeking to resolve these
inconsistent outcomes. In his lead opinion upholding the validity
of Angiotech's patent, Lord Hoffmann did not agree with the
reasoning that the UK lower courts used in justifying revocation
and instead agreed with the opinion of the Dutch Court. The House
of Lords' unanimous decision reflects an important development in
bringing uniformity to the interpretation of the European Patent
Convention among the national courts of Europe and the European
Patent Office. Note on Forward Looking Statements: Statements
contained in this press release that are not based on historical
fact, including without limitation statements containing the words
"believes," "may," "plans," "will," "estimate," "continue,"
"anticipates," "intends," "expects" and similar expressions,
constitute "forward-looking statements" within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995 and
constitute "forward-looking information" within the meaning of
applicable Canadian securities laws. All such statements are made
pursuant to the "safe harbor" provisions of applicable securities
legislation. Forward-looking statements may involve, but are not
limited to, comments with respect to our objectives and priorities
for 2007 and beyond, our strategies or future actions, our targets,
expectations for our financial condition and the results of, or
outlook for, our operations, research development and product and
drug development. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, events or developments to be materially different
from any future results, events or developments expressed or
implied by such forward-looking statements. Page 1 of 2 Many such
risks, uncertainties and other factors are taken into account as
part of our assumptions underlying these forward-looking statements
and include, among others, the following: general economic and
business conditions, both nationally and in the regions in which we
operate; market demand; technological changes that could impact our
existing products or our ability to develop and commercialize
future products; competition; existing governmental regulations and
changes in, or the failure to comply with, governmental
regulations; adverse results or unexpected delays in drug discovery
and clinical development processes; decisions, and the timing of
decisions, made by health regulatory agencies regarding approval of
our technology and products; the requirement for substantial
funding to conduct research and development and to expand
commercialization activities or consummate acquisitions; and any
other factors that may affect performance. In addition, our
business is subject to certain operating risks that may cause the
actual results expressed or implied by the forward-looking
statements in this report to differ materially from our actual
results. These operating risks include: our ability to attract and
retain qualified personnel; our ability to successfully complete
preclinical and clinical development of our products; changes in
business strategy or development plans; our failure to obtain
patent protection for discoveries; loss of patent protection
resulting from third party challenges to our patents;
commercialization limitations imposed by patents owned or
controlled by third parties; our ability to obtain rights to
technology from licensors; liability for patent claims and other
claims asserted against us; our ability to obtain and enforce
timely patent and other intellectual property protection for our
technology and products; the ability to enter into, and to
maintain, corporate alliances relating to the development and
commercialization of our technology and products; market acceptance
of our technology and products; our ability to successfully
manufacture, market and sell our products; the continued
availability of capital to finance our activities; our ability to
continue to integrate into our business the operations of American
Medical Instruments Holdings, Inc. ("AMI"); our ability to achieve
the operational and other synergies and the other commercial or
financial benefits expected as a result of the acquisition of AMI;
and any other factors referenced in our annual information form and
other filings with the applicable Canadian securities regulatory
authorities or the SEC. Given these uncertainties, assumptions and
risk factors, readers are cautioned not to place undue reliance on
such forward-looking statements. We disclaim any obligation to
update any such factors or to publicly announce the result of any
revisions to any of the forward-looking statements contained in
this prospectus to reflect future results, events or developments.
CONTACT: Sage Baker, Investor Relations and Corporate
Communications, Angiotech Pharmaceuticals, Inc., (604) 221-6933, ;
Elizabeth Sol, Investor Relations and Corporate Communications,
Angiotech Pharmaceuticals, Inc., (604) 221-6920, DATASOURCE:
Angiotech Pharmaceuticals, Inc. CONTACT: Sage Baker, Investor
Relations and Corporate Communications, Angiotech Pharmaceuticals,
Inc., (604) 221-6933, ; Elizabeth Sol, Investor Relations and
Corporate Communications, Angiotech Pharmaceuticals, Inc., (604)
221-6920,
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