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SOURCE MiMedx Group, Inc.
Company Amends its Patent Infringement Lawsuit to Include Two Additional Patents
MARIETTA, Ga., April 29, 2014 /PRNewswire/ -- MiMedx Group, Inc. (NASDAQ: MDXG), an integrated developer, manufacturer and marketer of patent-protected regenerative biomaterials and bioimplants processed from human amniotic membrane, announced today its receipt of four newly issued patents related to the Company's tissue allografts derived from the placenta.
On April 22, 2014, the U.S. Patent and Trademark Office awarded MiMedx U.S. Patent Numbers 8,703,206 and 8,703,207, both entitled "Placental Tissue Grafts." On April 29, 2014, the U.S. Patent Office also issued to MiMedx U.S. Patent Number 8,709,493 and U.S. Patent Number 8,709,494, both also entitled "Placental Tissue Grafts." Among other things, the four new patents further protect MiMedx's layered allografts, including AmnioFix® and EpiFix® brand allografts.
"We are pleased to have been granted these four new patents, which now bring our total to 15 patents issued to MiMedx related to our allografts derived from the amniotic membrane," said Parker H. "Pete" Petit, Chairman and CEO. "Human amnion/chorion tissue is rich in cytokines and growth factors known to promote wound healing. Our patented constructs cover multi-layered allografts and processes for making them. These layered allografts are designed to effectively provide cytokines and growth factors to the treatment site. We have developed a robust scientific foundation surrounding our allografts, and it is vital that we protect it. To do so, we have been very prolific in the filing of patent applications. In addition to our 15 issued patents, we have 49 pending patent applications related to our amnion/chorion technology that have been filed with the U.S. Patent and Trademark Office."
Bill Taylor, President and COO, stated, "We have taken years and spent millions in Research & Development expenditures to complete the proprietary designs, methods and processes that preserve the critical properties of our allografts. The healing properties and other anti-inflammatory, barrier and scar formation reduction properties contained in our allografts enhance their leadership status in the market. Our science and technology will continue to reinforce MiMedx' leadership position in the production of regenerative therapies and biomaterials produced from human amniotic membrane. We are committed to continuing our aggressive focus on Research & Development and the continual protection of the intellectual property that we have created."
The Company also announced that it has amended its patent infringement lawsuit recently filed in the United States District Court for the Northern District of Georgia against Liventa Bioscience, Inc. ("Liventa"), Medline Industries, Inc. ("Medline") and Musculoskeletal Transplant Foundation, Inc. ("MTF"), to add additional counts of infringement of MiMedx's patents. In the amendment, MiMedx asserts that Liventa (formerly known as AFCell Medical, Inc.), Medline and MTF infringe two of these newly issued MiMedx patents:
1. US 8,703,207 – Placental Tissue Grafts.
2. US 8,709,494 – Placental Tissue Grafts.
Petit commented, "As we previously stated, we have responsibilities to prescribing physicians and their patients, as well as to our shareholders and employees to protect our intellectual property. This amendment to our previously filed lawsuit furthers our commitment to these responsibilities."
MiMedx® is an integrated developer, manufacturer and marketer of patent protected regenerative biomaterial products and bioimplants processed from human amniotic membrane. "Innovations in Regenerative Biomaterials" is the framework behind our mission to give physicians products and tissues to help the body heal itself. Our biomaterial platform technologies include AmnioFix® and EpiFix®, our tissue technologies processed from human amniotic membrane that is derived from donated placentas. Through our donor program, mothers delivering full-term Caesarean section births can elect in advance of delivery to donate the placenta in lieu of having it discarded as medical waste. We process the human amniotic membrane utilizing our proprietary PURION® process, to produce a safe and effective implant. MiMedx® is the leading supplier of amniotic tissue, having supplied over 225,000 allografts to date for application in the Wound Care, Surgical, Sports Medicine, Ophthalmic and Dental sectors of healthcare.
Safe Harbor Statement
This press release includes statements that look forward in time or that express management's beliefs, expectations or hopes. Such statements are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, express or implied statements about the Company's ability to maintain and enforce patent and other intellectual property protection for its product portfolio. These statements are based on current information and belief, and are not guarantees of future performance. Among the risks and uncertainties that could cause actual results to differ materially from those indicated by such forward-looking statements include the uncertainties of litigation, that the Company may be not able to protect the intellectual property of its product portfolio, and the risk factors detailed from time to time in the Company's periodic Securities and Exchange Commission filings, including, without limitation, its 10-K filing for the fiscal year ended December 31, 2013. By making these forward-looking statements, the Company does not undertake to update them in any manner except as may be required by the Company's disclosure obligations in filings it makes with the Securities and Exchange Commission under the federal securities laws.
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