Medtech titan St. Jude Medical’s (NYSE:STJ) lost a bid to appeal its lawsuit against AccessClosure after a federal court refused to hear a patent infringement claim over artery closure devices.
AccessClosure touted today’s news, calling it "an outstanding day" for the company.
The lawsuit involved the so-called "Janzen patent," named for inventor Ernst Janzen, which covers a "device and method for sealing puncture wounds."
The U.S. Court of Appeals sided with AccessClosure, affirming a lower court’s ruling that deemed the Janzen patent invalid.
"The court’s ruling on Janzen ’439 is an important vindication that ends years of legal distraction," AccessClosure president & CEO Gregory Casciaro said in prepared remarks. "The timely decision allows the AccessClosure team to finally put this dispute behind us and enter 2014 with a clear focus on developing and delivering innovative, patient-friendly closure solutions and continuing to invest in new technologies that improve both the doctor and patient experience."
AccessClosure is still on the hook for $27.1 million in compensatory damages after the Appeals Court upheld a separate ruling finding infringement of the "Fowler" patents. That case is slated to head back to a lower court to calculate total damages.
"While we maintain that our products do not utilize St. Jude technology, we are prepared to comply with the award decision related to the Fowler patent family and put all legal proceedings behind us," Casciaro said.
