Neovasc Inc. said a German court dismissed a case brought by Edwards Lifesciences Corp. against the company, reverting the full ownership rights to a European patent related to the Tiara heart device.
A lower court in Munich had awarded co-ownership rights to the patent to both Neovasc and Edwards Lifesciences, a decision the parties appealed. However, Edwards Lifesciences withdrew its appeal for full ownership during the appeal process.
Tiara is a medical device used for treating mitral valve regurgitation by replacing the diseased valve. Mitral regurgitation is a condition in which the heart's mitral valve does not close tightly, allowing blood to flow backward in the heart.
Canada's Neovasc noted that the German court, while dismissing the case, found that Edwards Lifesciences had not contributed to the invention of Tiara — leaving the ownership rights of the device with the medical-device maker.
The decision allows Neovasc to pursue its European patent application with the sole right to commercialize Tiara in the region. The decision can be appealed by the parties in the German Supreme Court.
In the U.S., Irvine, Calif.-based medical-device maker Edwards Lifesciences has won a patent case against Neovasc related to the Tiara program.