Nevro Corp. (NYSE: NVRO), a global medical device company that is providing innovative, evidence-based solutions for the treatment of chronic pain, today announced that in its patent litigation against Boston Scientific the U.S. Court of Appeals for the Federal Circuit issued a ruling in its favor. The Federal Circuit reversed the district court's indefiniteness rulings, reinstating Nevro's asserted patent claims covering methods and systems for delivering SCS therapy at high frequencies.
"The appellate court's ruling once again affirms the strength of our intellectual property, and our ability to maintain exclusivity over our HF10(R) therapy," said Keith Grossman, Chairman and Chief Executive Officer for Nevro. "We have invested significant resources in taking a portfolio approach to protecting our intellectual property, and that strategy has clearly been successful. We consider the appellate court's unanimous ruling today to be a significant and overwhelming victory."
"We are confident that the claims upheld by the appellate court will protect our exclusivity in high frequency, paresthesia-free SCS therapy," said Kashif Rashid, General Counsel for Nevro. "Our patent strategy has ensured our ability to maintain exclusivity of high frequency, paresthesia-free SCS, with method and system claims that have withstood numerous challenges from multiple competitors, including inter partes review at the U.S. Patent Office, invalidity challenges in the Northern District of California and Delaware district courts, and now invalidity challenges at the Court of Appeals for the Federal Circuit."
Mr. Rashid further stated, "Shortly after Nevro filed this lawsuit in 2016, Boston Scientific cancelled its original launch plan and modified its SCS system to avoid infringing the asserted patents. In July 2018, Boston Scientific represented to the court that it had decided not to launch a high frequency product."
The Federal Circuit ruled in Nevro's favor with regard to all of Nevro's asserted patent claims in a unanimous, precedential opinion.
Documents relating to the lawsuit are available via the courts' websites at: http://www.cafc.uscourts.gov/opinions-orders and www.cand.uscourts.gov. The district court case no. is 3:16-cv-06830.
About Nevro Headquartered in Redwood City, California, Nevro is a global medical device company focused on providing innovative products that improve the quality of life of patients suffering from debilitating chronic pain. Nevro has developed and commercialized the Senza spinal cord stimulation (SCS) system, an evidence-based, non-pharmacologic neuromodulation platform for the treatment of chronic pain. HF10 therapy has demonstrated the ability to reduce or eliminate opioids in greater-than or equal to 65% of patients across six peer-reviewed clinical studies. The Senza(R) System, Senza II(TM) System, and the Senza(R) Omnia(TM) System are the only SCS systems that deliver Nevro's proprietary HF10(R) therapy. Senza, Senza II, Senza Omnia, HF10, Nevro and the Nevro logo are trademarks of Nevro Corp.
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Forward-Looking StatementsIn addition to historical information, this press release contains forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including our belief in the strength of our IP, the significance of the court ruling and our ability to maintain exclusivity of high frequency spinal cord stimulation. These forward-looking statements are based upon information that is currently available to us or our current expectations, speak only as of the date hereof, and are subject to numerous risks and uncertainties, including our ability to protect our intellectual property rights and proprietary technologies. These factors, together with those that are described in greater detail in our Annual Report on Form 10-K filed on February 25, 2020, as well as any reports that we may file with the Securities and Exchange Commission in the future, may cause our actual results, performance or achievements to differ materially and adversely from those anticipated or implied by our forward-looking statements. We expressly disclaim any obligation, except as required by law, or undertaking to update or revise any such forward-looking statements.
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