Neovasc (NSDQ:NVCN) said today it closed an offering of approximately $37.5 million and a private placement of approximately $27.8 million to cover the roughly $42 million balance of damages and interest in a litigation with Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve. In its offering, Neovasc offered approximately 6.6 million Series A units and 19.1 million Series B units at a […]
Neovasc surges on news of appeal, FDA nod for clinical trial
Neovasc (NSDQ:NVCN) shares surged today in pre-market trading after the replacement heart valve maker said it’s exhausted the appeals process in its trade secret spat with Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve and that it won an FDA nod for a clinical trial. A jury in May 2016 awarded $70 million to CardiAQ after finding that Neovasc misappropriated trade secrets in developing […]
Neovasc loses German patent case against Edwards Lifesciences unit CardiAQ Valve
Neovasc (NSDQ:NVCN) shares are down more than 6% today after the replacement heart valve maker said it lost a patent case in Germany against arch-rival and Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve The District Court in Munich ruled that CardiAQ Valve contributed to the creation of Neovasc’s Tiara transcatheter mitral valve replacement, awarding”co-entitlement” rights to the patent in […]
Judge dings Neovasc for another $21m in spat with Edwards Lifesciences unit CardiAQ Valve
A federal judge in Boston yesterday added another $21 million to the judgment against Neovasc (NSDQ:NVCN) in a trade secret spat with Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve that’s already cost Neovasc some $91 million. A jury in May awarded $70 million to CardiAQ after finding that Neovasc misappropriated trade secrets in developing its Tiara transcatheter mitral valve replacement […]
Neovasc granted stay as it appeals $70m CardiAQ loss
Neovasc (NSDQ:NVCN) said today it won a stay of judgement as it looks to appeal a $70 million loss to mitral valve rival and Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve. The stay from the US District Court for the District of Massachusetts restricts CardiAQ from enforcing the money judgement “pending the outcome of the appeal,” the company said. “Having […]
Neovasc dodges investor lawsuit over $70m loss to CardiAQ Valve
Neovasc (NSDQ:NVCN) yesterday dodged an investor lawsuit brought in the wake of its $70 million loss to replacement mitral valve rival and Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve. A Massachusetts federal jury in May awarded $70 million to CardiAQ after finding that Neovasc misappropriated trade secrets in developing its Tiara transcatheter mitral valve replacement device. Edwards inherited the lawsuit […]
Edwards Lifesciences subsidiary CardiAQ Valve wins another $21m in Neovasc patent spat
A federal judge in Massachusetts yesterday added $21 million to the $70 million Neovasc (NSDQ:NVCN) owes Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve in their spat over replacement heart valve technology. A jury in May awarded $70 million to CardiAQ after finding that Neovasc misappropriated trade secrets in developing its Tiara transcatheter mitral valve replacement device. Edwards inherited the lawsuit when it acquired […]
UPDATE: Neovasc fights Edwards Lifesciences’ bid to add to $70m trade theft loss
UPDATED Sept. 9, 2016, with details on Neovasc’s response. Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve Technologies wants a federal judge in Massachusetts to add 33%, or more than $23 million, to the $70 million trade theft verdict lodged against Neovasc (NSDQ:NVCN) earlier this year. A federal jury in Massachusetts found in May that Neovasc stole trade secrets and breached a non-disclosure agreement with CardiAQ […]
Neovasc wins round in patent battle with Edwards Lifesciences subsidiary CardiAQ Valve
Neovasc (NSDQ:NVCN) last week won a round in its patent battle with Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve Technologies that’s already got it on the hook for some $70 million in damages. A federal jury in Massachusetts found earlier this month that Neovasc stole trade secrets and breached a non-disclosure agreement with CardiAQ in developing the Tiara transcatheter mitral valve replacement. Edwards inherited the lawsuit […]
Jury awards Edwards Lifesciences $70m in CardiAQ Valve spat with Neovasc
A federal jury in Massachusetts yesterday awarded $70 million to Edwards Lifesciences (NYSE:EW) subsidiary CardiAQ Valve Technologies in a patent infringement lawsuit after finding that Neovasc (NSDQ:NVCN) stole trade secrets and breached a non-disclosure agreement. The lawsuit, filed in June 2014 in the U.S. District Court for Massachusetts, accused Neovasc of using the misappropriated trade secrets to develop […]
Edwards Lifesciences closes $400m CardiAQ Valve buyout
Edwards Lifesciences (NYSE:EW) said yesterday that it closed the $400 million buyout of CardiAQ Valve Technologies and its transcatheter mitral valve implant. The deal for CardiAQ Valve, which like Edwards is based in Irvine, Calif., included an up-front payment of $350 million in cash and another $50 million pegged to “achievement of a European regulatory milestone,” Edwards said. Edwards is […]
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