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ZELTIQ® Aesthetics Preliminary Injunction Against Clinipro In Spain Still On Record And In Full Force

Stocks in this article: ZLTQ

ZELTIQ Aesthetics, Inc. (Nasdaq: ZLTQ), a medical technology company focused on developing and commercializing products utilizing its proprietary controlled-cooling technology platform, today announced that the preliminary injunction originally granted by the Mercantile Court in Spain on May 4, 2012, still stands despite recent reports from Clinipro that it has been suspended.

The lawsuit against Clinipro in Spain alleges infringement of two European patents owned by Massachusetts General Hospital (MGH) and licensed exclusively to ZELTIQ. After hearing the petition for a preliminary injunction on May 4, the Mercantile Court in Spain granted ZELTIQ’s and MGH’s request thereby prohibiting Clinipro’s further importation, manufacture, distribution, offering for sale and sale of Clinipro’s LipoCryo device in Spain. The Mercantile Court subsequently scheduled a trial on the merits for a permanent injunction against Clinipro’s LipoCryo device to be held on September 18, 2012. While Clinipro has petitioned the Mercantile Court to suspend the preliminary injunction order, the Court determined that a suspension would not be granted unless Clinipro deposits the sum of €50,000 euros each month until the September trial in the case to cover ZELTIQ’s damages resulting from Clinipro’s ongoing patent infringement. As Clinipro has not deposited any funds, the preliminary injunction has not been, and cannot be suspended.

As a result, and under the existing Mercantile Court order, Clinipro is still banned from importation, manufacture, distribution, offering for sale and sale of Clinipro’s LipoCryo device in Spain. To continue to do so, as the company willingly acknowledged in its press release issued on July 3, 2012, only serves as an admission by Clinipro that it has been violating the Mercantile Court’s May 4 preliminary injunction order.

Mark Foley, interim President and Chief Executive Officer of ZELTIQ, commented, “It is unfortunate that Clinipro chose to publically issue a misleading statement and build on a campaign of market confusion. As a company, ZELTIQ is steadfast in its commitment to defend its intellectual property rights. We are confident that the Mercantile Court in Spain will again rule in our favor at the September trial as already demonstrated by the May 4 preliminary injunction order, and by the Court’s recent rejection of Clinipro’s petition to suspend the injunction without first depositing significant sums to cover ZELTIQ’s damages as a result of Clinipro’s ongoing patent infringement.”

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