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 Mercantile Court in Spain rendered its ruling on the merits of ZELTIQ’s and Massachusetts General Hospital’s (MGH) request for a permanent injunction against Clinipro’s LipoCryo device based on Clinipro’s infringement of two European patents owned by MGH and globally licensed exclusively to ZELTIQ and denied the request.
ZELTIQ is a global medical device company that has developed an innovative, noninvasive, clinically proven procedure that selectively reduces fat through controlled cooling. Its CoolSculpting ® technology is protected by numerous patents and trademarks around the world.
ZELTIQ and MGH filed suit against Clinipro in March 2012 alleging infringement by Clinipro of two European patents licensed by ZELTIQ from MGH and requested an injunction against further sales of Clinipro’s LipoCryo device. After hearing a petition in April 2012, the Mercantile Court granted ZELTIQ’s and MGH’s request for a preliminary injunction against further importation, distribution, and sales of Clinipro's LipoCryo device in Spain. The Mercantile Court subsequently scheduled a trial which was completed October 2012. ZELTIQ is being represented by Salvador Ferrandis & Partners. The Mercantile Court’s ruling is fully appealable and affects only Clinipro’s activities in Spain.
ZELTIQ has also filed a separate patent infringement lawsuit against Clinipro in France. Veron & Associes is representing ZELTIQ and MGH in this matter and the trial is expected to begin in April.“We are disappointed in the Mercantile Court’s decision as our legal team and outside counsel were anticipating that the Court would follow its previous decision of granting our request for a preliminary injunction,” commented Mark Foley, President and Chief Executive Officer of ZELTIQ. “ZELTIQ and MGH intend to appeal this ruling immediately and, along with our outside counsel, we are confident that we will ultimately prevail. We remain steadfast in our commitment to vigorously enforce our intellectual property rights and will continue to partner with MGH to aggressively assert our rights.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV