Alphatec Announces Stay of Court Proceedings in NuVasive Patent Lawsuit
11 Februar 2019 - 3:00PM
Alphatec Holdings, Inc. (“ATEC” or “the Company”) (Nasdaq: ATEC)
today announced several favorable developments in its ongoing
patent litigation with NuVasive, Inc. (Nasdaq: NUVA).
On February 6, 2019, the United States District
Court for the Southern District of California (the “Court”) granted
a stay in the patent litigation proceedings between ATEC and
NuVasive and vacated the December 9, 2019 trial date. The
stay, which was agreed to by both ATEC and NuVasive, halts active
litigation in the patent suit while the U.S. Patent and Trademark
Office considers challenges recently filed by ATEC to invalidate
certain NuVasive patents covering its CoRoent® lateral
implants.
“We are extremely pleased with the many legal
successes that we have seen to date in this lawsuit, including the
Court’s entry of the stay,” said Pat Miles, ATEC’s Chairman and
Chief Executive Officer. “I am confident that, upon full review,
the Patent Office will invalidate the challenged NuVasive implant
patents. While we welcome the positive legal developments, we
are not looking to distinguish ATEC in the courtroom. Instead, we
are on a mission to differentiate ATEC in the operating room,
leveraging our organic innovation machine to improve surgical
outcomes. With twelve new product releases slated for 2019,
including the highly anticipated launch of our revolutionary nerve
monitoring platform, we are increasingly well-positioned to be the
new leader of innovation in spine.”
NuVasive originally filed suit against ATEC in
February 2018, asserting various infringement claims against ATEC’s
lateral surgery procedure. In May 2018, upon ATEC’s motion, the
Court dismissed NuVasive’s claims that ATEC infringed design
patents covering the implants and sequential dilators used in
lateral surgery.
In July 2018, the Court denied NuVasive’s motion
for preliminary injunction, rejecting NuVasive’s effort to block
ATEC from participation in the lateral surgery market and finding
that NuVasive failed to meet its burden to prove it was likely to
succeed on the merits of its case. Then, in January 2019, the Court
rejected NuVasive’s attempt to dismiss ATEC’s claims that NuVasive
intentionally had misled the Patent Office as a means of obtaining
certain patents asserted against ATEC.
ATEC anticipates that the stay of proceedings
announced today will remain in effect until at least July 2019,
when it is expected that the Patent Office will decide whether it
will institute a full review of the challenged NuVasive implant
patents.
About Alphatec Holdings,
Inc.
Alphatec Holdings, Inc., through its
wholly-owned subsidiaries, Alphatec Spine, Inc. and SafeOp
Surgical, Inc., is a medical device company that designs, develops
and markets Spine Approach Technologies for the treatment of spinal
disorders associated with disease and degeneration, congenital
deformities and trauma. The Company's mission is to improve lives
by providing innovative spine surgery solutions through the
relentless pursuit of superior outcomes. The Company markets its
products in the U.S. via independent sales agents and a direct
sales force.
Additional information can be found at
www.atecspine.com.
Forward-Looking
Statements
This press release contains "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995 that involve risks and uncertainty. Such
statements are based on management's current expectations and are
subject to a number of risks and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements. The Company cautions investors that
there can be no assurance that actual results or business
conditions will not differ materially from those projected or
suggested in such forward-looking statements as a result of various
factors. Forward-looking statements include the references to the
Company’s planned commercial launches and product introductions,
and potential outcomes of ongoing litigation. Important
factors that could cause actual results to differ materially from
those expressed or implied by such forward-looking statements
include, but are not limited to: the uncertainty of success in
developing new products or products currently in the Company’s
pipeline; the uncertainties in the Company’s ability to execute
upon its strategic operating plan; failure to achieve acceptance of
the Company’s products by the surgeon community; failure to
obtain FDA or other regulatory clearance or approval for
new products, or unexpected or prolonged delays in the process;
product liability exposure; an unsuccessful outcome in any
litigation in which the Company is a defendant; patent infringement
claims; claims related to the Company’s intellectual property and
the Company’s ability to meet its financial obligations. The words
“believe,” “will,” “should,” “expect,” “intend,” “estimate,” “look
forward” and “anticipate,” variations of such words and similar
expressions identify forward-looking statements, but their absence
does not mean that a statement is not a forward-looking
statement. A further list and description of these and other
factors, risks and uncertainties can be found in the Company's most
recent annual report, and any subsequent quarterly and current
reports, filed with the Securities and Exchange Commission.
ATEC disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise, unless required by law.
Investor/Media Contact:
Tina JacobsenInvestor Relations (760) 494-6790ir@atecspine.com
Company Contact:
Jeff BlackExecutive Vice President and CFOAlphatec Holdings,
Inc. ir@atecspine.com
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