NASDAQ: NVCN
TSX VENTURE: NVC
VANCOUVER, June 6, 2014 /PRNewswire/ - Neovasc Inc.
("Neovasc" or the "Company") (NASDAQ: NVCN) (TSXV: NVC) has today
been made aware of a lawsuit filed by CardiAQ Valve Technologies in
the U.S. District Court for the District of Massachusetts including certain allegations
relating to Neovasc's transcatheter mitral valve technology,
including the Tiara™ device.
The complaint has not yet been served on the Company. If
CardiAQ does serve the complaint, Neovasc intends to vigorously
defend itself. Based on its understanding of the unproven
allegations, the Company believes the lawsuit to be groundless and
without merit.
About Neovasc Inc.
Neovasc is a specialty medical device company that develops,
manufactures and markets products for the rapidly growing
cardiovascular marketplace. Its products include the Tiara™
technology in development for the transcatheter treatment of mitral
valve disease, the Neovasvc Reducer™ for the treatment of
refractory angina and a line of advanced biological tissue products
that are used as key components in third-party medical products
including transcatheter heart valves. For more information, visit:
www.neovasc.com.
Statements contained herein that are not based on historical
or current fact, including without limitation statements containing
the words "anticipates," "believes," "may," "continues,"
"estimates," "expects," and "will" and words of similar import,
constitute "forward-looking statements" within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995 and Canadian
securities laws. Such forward looking statements involve known and
unknown risks, uncertainties and other factors that may cause the
actual results, events or developments to be materially different
from any future results, events or developments expressed or
implied by such forward-looking statements. Such factors include,
among others, the following: general economic and business
conditions, both nationally and in the regions in which the Company
operates; the merits and the Company's defence of the lawsuit filed
by CardiAQ, listing of the Company's securities on the TSX, our
anticipated use of proceeds from any financings, a history of
losses and lack of and uncertainty of revenues, ability to obtain
required financing, receipt of regulatory approval of product
candidates, ability to properly integrate newly acquired
businesses, technology changes; competition; changes in business
strategy or development plans; the ability to attract and retain
qualified personnel; existing governmental regulations and changes
in, or the failure to comply with, governmental regulations;
liability and other claims asserted against the Company; and other
factors referenced in the Company's filings with Canadian
securities regulators. Although the Company believes that
expectations conveyed by the forward-looking statements are
reasonable based on the information available to it on the date
such statements were made, no assurances can be given as to the
future results, approvals or achievements. Given these
uncertainties, readers are cautioned not to place undue reliance on
such forward-looking statements. The Company does not assume the
obligation to update any forward-looking statements except as
otherwise required by applicable law.
SOURCE Neovasc Inc.
