Zeltiq wins two legal decisions regarding its intellectual property
On May 20, Zeltiq succeeded to obtain a ruling (in the Alameda Country Superior Court of California) that gives them the option to dismiss a class action securities dispute against them! A few days later, on May 23, a ruling was issued upon the request of Zeltiq and MGH (Massachusetts General Hospital) for abiding limitation against LipoCryo by Clinipro due to the infraction of a patent owned by MGH and globally licensed exclusively to Zeltiq (for its Coolsculpting system). The Tribunal de Grande Instance of Paris decided that the patent of MGH is absolutely valid and ordered CliniPro to stop promoting and selling LipoCryo.
What the president of Zeltiq, Mark Foley said? “We continue to take an aggressive and proactive approach in enforcing our CoolSculpting intellectual property and brand internationally and domestically,” and added “Counterfeit systems, such as those manufactured by Clinipro, are looking to profit on our pioneering and innovative technology with products that do not provide physicians and patients the safety and performance results that they have come to expect. CoolSculpting continues to be the market leader and is the only cold-based, non-surgical fat reduction and body contouring treatment that is FDA-cleared” to conclude “Finally, in terms of the securities litigation, we are extremely pleased with the Court’s ruling to grant our motion for dismissal in its entirety. Our internal legal team led by our General Counsel, Sergio Garcia, along with our outside securities litigation counsel, Cooley LLPdid an outstanding job.”