ZEPHYR COVE, Nev., July 8, 2019 /PRNewswire/ -- VirnetX™ Holding
Corporation (NYSE AMERICAN: VHC), an Internet security software and
technology company, announced today that the US Court of Appeals
for the Federal Circuit issued an opinion today in Appeal Nos.
2017-1368, 2017-1383 as to two decisions issued by the United
States Patent & Trademark Office's Patent Trial and Appeal
Board that had found unpatentable claims of U.S. Patent Nos.
6,502,135 and 7,490,151. The decision vacated and remanded
both of the decisions, agreeing with VirnetX including (1) the
Board abused its discretion in denying VirnetX the opportunity to
file a motion for additional discovery as to real party-in-interest
issues; (2) many of the Board's positions as to the prior art
lacked substantial evidence; and (3) the Board misconstrued the
claims.
"We are extremely pleased with the Federal Court's decision
which vindicates many of VirnetX's arguments about the Patent
Board's decisions," said Kendall
Larsen, VirnetX CEO and President. "This decision
comes on the heels of the Federal Circuit's prior decision in
Appeal No. 2018-1751 on June 28, 2019
as to another Board decision against U.S. Patent No. 7,418,504,
where the Board's finding of unpatentability as to claims 5, 12,
and 13 was also vacated."
About VirnetX
VirnetX Holding Corporation is an Internet security software and
technology company with patented technology for secure
communications including 4G LTE and 5G security. The Company's
software and technology solutions, including its secure domain name
registry and Gabriel Connection Technology™, are designed to
facilitate secure communications and to create a secure environment
for real-time communication applications such as instant messaging,
VoIP, smart phones, eReaders and video conferencing. The Company's
patent portfolio includes over 115 U.S. and international patents
and over 50 pending applications. For more information, please
visit www.virnetx.com
Forward Looking Statements
Statements in this press release that are not statements of
historical or current fact, including statements regarding
the strength of VirnetX's intellectual property, constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such
forward-looking statements are based on expectations, estimates and
projections about the markets in which the Company operates,
management's beliefs, and certain assumptions made by management
and involve known and unknown risks, uncertainties and other
unknown factors that could cause the actual results of the Company
to be materially different from the historical results or from any
future results expressed or implied by such forward-looking
statements, including but not limited to (1) the outcome of any
legal proceedings that have been or may be initiated by the Company
or that may be initiated against the Company, including pending and
future inter partes review proceedings in the Patent and Trademark
Office; (2) the ability to capitalize on the Company's patent
portfolio and generate licensing fees and revenues; (3) the ability
of the Company to be successful in entering into licensing
relationships with its targeted customers on commercially
acceptable terms; (4) potential challenges to the validity of the
Company's patents underlying its licensing opportunities; (5) the
ability of the Company to achieve widespread customer adoption of
the Company's Gabriel Communication Technology™ and its secure
domain name registry; (6) the level of adoption of the 3GPP Series
33 security specifications; (7) whether or not the Company's
patents or patent applications may be determined to be or become
essential to any standards or specifications in the 3GPP LTE, SAE
project or otherwise; (8) the extent to which specifications
relating to any of the Company's patents or patent
applications may be adopted as a final standard, if at
all; and (9) the possibility that Company may be adversely affected
by other economic, business, and/or competitive factors. In
addition to statements which explicitly describe such risks and
uncertainties, readers are urged to consider statements labeled
with the terms "believes," "belief," "expects," "intends,"
"anticipates," or "plans" to be uncertain and forward-looking.
The forward-looking statements contained herein are also
subject generally to other risks and uncertainties that are
described from time to time in the Company's reports and
registration statements filed with the Securities and Exchange
Commission, including those under the heading "Risk Factors" in
Company's Annual Report on Form 10-K filed on March 19, 2019 and Quarterly Report on Form 10-Q
filed with the SEC on May 10, 2019.
Many of the factors that will determine the outcome of the subject
matter of this press release are beyond the Company's ability to
control or predict. Except as required by law, the Company is
under no duty to update any of the forward-looking statements after
the date of this press release to conform to actual results.
Contact:
Investor Relations
VirnetX Holding Corporation
775.548.1785
ir@virnetx.com
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