Business Wire02.28.20
Stimwave Technologies Inc., a global medical device company that provides minimally invasive, MRI-compatible, battery-free implantable devices to treat chronic pain, announced the settlement of Nevro’s patent infringement lawsuit. As part of the settlement, Stimwave has agreed to cease commercialization of all high frequency spinal cord stimulation systems, globally, in exchange for dismissal of the lawsuit with no damages assessed. The settlement pertains exclusively to spinal cord stimulation (SCS) and does not affect in any way Stimwave’s commercialization of its peripheral nerve stimulation (PNS) products for chronic pain management.
For its spinal cord stimulation products only, Stimwave has agreed to a permanent injunction such that Stimwave’s spinal cord stimulation products will not deliver any therapy that includes pulse frequencies between 1,500 Hz and 100,000 Hz.
“The new management team at Stimwave is pleased to put this litigation from past management behind us,” said Paul LaViolette, Stimwave’s chairman and interim CEO. “We will continue to focus commercialization on the tiny form factor of our Freedom neurostimulators, which can be used throughout the body, eliminate the need for large internal batteries, and are fully MRI compatible. Those attributes are the key to our products’ consistent double-digit annual growth and potential to disrupt both the spinal cord and peripheral nerve neuromodulation market.”
For its spinal cord stimulation products only, Stimwave has agreed to a permanent injunction such that Stimwave’s spinal cord stimulation products will not deliver any therapy that includes pulse frequencies between 1,500 Hz and 100,000 Hz.
“The new management team at Stimwave is pleased to put this litigation from past management behind us,” said Paul LaViolette, Stimwave’s chairman and interim CEO. “We will continue to focus commercialization on the tiny form factor of our Freedom neurostimulators, which can be used throughout the body, eliminate the need for large internal batteries, and are fully MRI compatible. Those attributes are the key to our products’ consistent double-digit annual growth and potential to disrupt both the spinal cord and peripheral nerve neuromodulation market.”