NMT announced that a $2.25 million judgment for damages has been entered by the U.S. District Court of Minnesota against Cardia of Burnsville, Minnesota. The judgment is required to be paid to NMT in increments over the next several months.
The patent infringement lawsuit, originally filed in September 2004, alleged that Cardia’s Intrasept device infringes US5451235 (‘235). The ‘235 Patent is owned by the Children’s Medical Center Corporation and is licensed exclusively by NMT. In November 2007, the U.S. District Court of Minnesota issued a summary judgment ruling confirming the validity of the ‘235 Patent and holding that Cardia had infringed upon it.
As part of the settlement, Cardia will pay $2.25 million and agreed immediately to cease further production, marketing and sales of its Intrasept device. The cash payments will be divided equally between NMT and CMCC, following reimbursement of NMT’s legal fees and expenses. All parties have agreed to have the matter dismissed with prejudice.
The patent infringement lawsuit, originally filed in September 2004, alleged that Cardia’s Intrasept device infringes US5451235 (‘235). The ‘235 Patent is owned by the Children’s Medical Center Corporation and is licensed exclusively by NMT. In November 2007, the U.S. District Court of Minnesota issued a summary judgment ruling confirming the validity of the ‘235 Patent and holding that Cardia had infringed upon it.
As part of the settlement, Cardia will pay $2.25 million and agreed immediately to cease further production, marketing and sales of its Intrasept device. The cash payments will be divided equally between NMT and CMCC, following reimbursement of NMT’s legal fees and expenses. All parties have agreed to have the matter dismissed with prejudice.
