Neovasc adds two co-inventors to heart valve patents

Medical device company  Neovasc has added two co-inventors to three of its patents, settling a dispute with a competitor,  Edwards Lifesciences.

In  an announcement on April 17, Neovasc said that for reasons of “efficiency and economy” it would add Jeremy Ratz and Arshad Quadri to three of its patents (US numbers 9,241,790; 9,248,014; 9,770,329).

Ratz and Quadri were the owners of CardiAQ Valve Technologies, which developed mitral valve replacements.  In 2015, Edwards Lifesciences acquired CardiAQ for $400 million.

The patents relate to the “Tiara”, a heart valve implant specifically designed to treat mitral valve regurgitation.

In its statement, Neovasc said each side had agreed to bear its own fees and costs, and no money damages would be awarded. It also said the addition of the two inventors will not restrict Neovasc from practising the patents in the future.

The news comes after an announcement by Neovasc last month that a German court had dismissed Edwards Lifesciences’ claims of co-inventorship.

Neovasc said the court had recognised that Ratz and Quadri had “made no contribution to the invention or development of the Tiara”.

Fred Colen, CEO of Neovasc, said the correction of patent inventorship would conclude the last active claims against the company.

"The German Appeals Court win provided us with further strategic options to resolve these claims and we have maintained the rights to practice our entire Tiara patent portfolio,” Colen said.

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