November 1, 2016 / 12:22 PM / 2 years ago

BRIEF-Neovasc announces update in litigation with CardiAQ

Nov 1 (Reuters) - Neovasc Inc

* Neovasc announces update in litigation with CardiAQ

* Says in order, judge ruled in favor of cardiAQ on issue of inventorship of neovasc’s ‘964 patent

* Says at same time, judge denied CardiAQ’s motion for an injunction that would have shut down development of tiara

* Neovasc inc says the judge upheld jury’s verdict and $70 million award against co, and awarded $21 million in enhanced damages to that award

* Says believe this decision affirms Neovasc’s rights to advance tiara program

* Neovasc inc says upon entry of a judgment by trial court, co will immediately seek to stay payment of $70 million damages award

* Says it will appeal validity of award, as well as ruling on inventorship Source text for Eikon: Further company coverage:

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