Transcend Medical and Glaukos Corporation Settle Patent Litigation

Print 30 October 2015

MENLO PARK, CA, Oct 30, 2015 (Marketwired via COMTEX) -- Transcend Medical, Inc. ("Transcend") announced today that it has reached agreement with Glaukos Corporation ("Glaukos") to settle the patent litigation pending between them in the U.S. District Court for the District of Delaware. Among other things, the settlement provides that in exchange for a perpetual, worldwide covenant by Glaukos not to sue Transcend's CyPass minimally invasive glaucoma surgery (MIGS) technologies on any of Glaukos' patents, Transcend will provide Glaukos with a one percent (1%), dollar- and time-capped payment on Transcend's commercial CyPass sales. As a result of the agreement, no bench trial will occur in November 2015 on any issue concerning Glaukos' patents, and all proceedings in Delaware have been dismissed with prejudice. Other terms remain confidential between the parties.

"We are pleased to be able to resolve our disagreement with Glaukos over its patents," said Brian Walsh, Transcend's President and Chief Executive Officer. "On the heels of our successful COMPASS clinical study, we now look forward to securing regulatory approval in the U.S. for our CyPass Micro-Stent to enable ophthalmologists to provide their patients with this innovative MIGS therapy," Mr. Walsh continued.

About the CyPass® Micro-Stent

The CyPass Micro-Stent is the first minimally invasive glaucoma stent designed to reduce IOP by enhancing aqueous outflow to the suprachoroidal space. Implanted using a minimally invasive procedure, the CyPass Micro-Stent avoids the trabecular meshwork and Schlemm's canal-a drainage pathway that is believed to be compromised in glaucomatous eyes. The CyPass Micro-Stent has received the CE Mark and was the subject of investigation for the treatment of mild-to-moderate glaucoma the U.S. in the COMPASS Clinical Study.

About the COMPASS study

The COMPASS study was a prospective, multicenter, randomized, controlled trial conducted at more than 20 sites throughout the U.S. under an Investigational Device Exemption (IDE) as part of the PMA requirements for the CyPass Micro-Stent. Over 500 adult patients with mild-to-moderate glaucoma undergoing cataract surgery were randomized to either receive the CyPass Micro-Stent after cataract surgery or undergo no further intervention.

About Transcend Medical, Inc.

Transcend Medical (www.transcendmedical.com) is a privately-held, venture-backed medical device company focused on the development of minimally invasive glaucoma interventions for the ophthalmic surgeon. Glaucoma is the leading cause of adult irreversible blindness, with nearly 6 million in the U.S. and over 70 million worldwide affected by the disease today. Glaucoma is a progressive disease of the optic nerve, usually the result of abnormally high intraocular pressure (IOP). While topical medications to lower IOP are considered first-line therapy and represent a more than $5 billion market,¹ patient adherence is low,² and many require alternative therapies.

*Caution: Investigational Device. Limited by Federal (U.S.) law to investigational use.

1. Market Scope. 2015 Report on the Global Glaucoma Surgical Device Market. September 2015.

2. Muir KW. Glaucoma medication adherence: room for improvement in both performance and measurement. Arch Ophthalmol 2011 Feb;129(2):243-5.

CyPass is a registered trademark, and Transcend is a trademark, of Transcend Medical, Inc.

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