SAN DIEGO, Oct. 25, 2012 /PRNewswire/ -- Volcano Corporation (NASDAQ: VOLC ), a leading developer and manufacturer of precision guided therapy tools designed to enhance the diagnosis and treatment of coronary and peripheral vascular disease, today announced that St. Jude Medical agreed that previous versions of its PressureWire® products infringed Volcano's 6,976,965 patent (a pressure sensing guide wire patent). Proceedings on damages have not yet been scheduled. In addition, a jury in the federal district court in Delaware has issued a verdict in St. Jude Medical's favor with respect to Volcano's patents at issue in the Company's ongoing patent lawsuit with St. Jude Medical, finding that St. Jude Medical's PressureWire® products do not infringe three of Volcano's patents.
As previously reported in Volcano's filings with the Securities and Exchange Commission, on October 19, 2012 a separate jury in the federal district court of Delaware found in favor of Volcano with respect to four St. Jude Medical patents, finding that Volcano's pressure sensing guide wire products do not infringe St. Jude Medical patents 6,112,598 (a sensor mount patent) and 6,248,083 (a calibration patent). In addition, the jury found that St. Jude Medical patents 5,938,624 and 6,196,980 (connector patents) were invalid. The fifth and final St. Jude Medical patent at issue in the ongoing patent litigation was eliminated from the litigation prior to trial through summary judgment on October 12, 2012.
"We have always preferred to compete in the marketplace with our innovative products, rather than in a courtroom," Scott Huennekens, Volcano president and chief executive officer, said. "However, St. Jude Medical continues to take aggressive legal action that, if successful, would restrict market competition and reduce patients' access to our products