Sight Sciences Announces Successful $34 Million Patent Infringement Verdict Against Alcon and its Hydrus Microstent for Microinvasive Glaucoma Surgery
29 Aprile 2024 - 2:05PM
Sight Sciences, Inc. (Nasdaq: SGHT) (“Sight Sciences”), an eyecare
technology company focused on developing and commercializing
innovative, interventional technologies that elevate the standard
of care, today announced that it received a positive jury trial
verdict of $34 million associated with the patent infringement case
it filed on September 16, 2021 against Alcon Inc., Alcon Vision,
LLC, Alcon Research, LLC, and Ivantis, Inc. (collectively, "Alcon")
in the U.S. District Court for the District of Delaware. Sight
Sciences asserted that Alcon’s and Ivantis’ sale of the Hydrus®
Microstent infringed three key patents.
The verdict was announced on Friday, April 26,
2024, following a five-day jury trial. The jury found that Alcon
willfully infringed all three Sight Sciences’ asserted patents and
awarded monetary damages for past infringement. The monetary
damages are comprised of $5.5 million in lost profits and $28.5
million in royalty damages for sales of the Hydrus Microstent for
the period from its commercial launch through trial. The patents at
issue were U.S. Patent Nos. 8,287,482, 9,370,443, and 11,389,328.
The judge has not yet ruled on any potential enhancement of damages
associated with the willfulness verdict or other remedies. Cooley
LLP represented Sight Sciences. This verdict is subject to
appeal.
“Ever since Sight Sciences filed its first
surgical glaucoma patent application in 2006, the Company has
invested considerable capital in research and development to create
new and innovative technologies, striving to pioneer novel
treatments for chronic eye disease. Our commitment to these
investments underscores our mission to expand patient access to
transformative and interventional technologies, ultimately
elevating the standard of care and enhancing patient outcomes,”
said Paul Badawi, co-founder and CEO of Sight Sciences. “Over the
past eighteen years, we have pioneered various important and
proprietary microinvasive surgical glaucoma methods and devices,
including intracanalicular scaffolding, bladeless goniotomy, ab
interno canaloplasty, ab interno trabeculotomy, and combinations of
these methods. Given the substantial investments we have made in
our surgical innovations on behalf of our surgeon customers and
glaucoma patients, we believe safeguarding our intellectual
property portfolio is paramount, and we are pleased with the jury’s
verdict. Our attention remains steadfast on equipping eye care
providers with efficacious technologies and executing on our
long-term growth strategy in surgical glaucoma and dry eye
disease.”
About Sight SciencesSight
Sciences is an eyecare technology company focused on developing and
commercializing innovative and interventional solutions intended to
transform care and improve patients’ lives. Using minimally
invasive or non-invasive approaches to target the underlying causes
of the world’s most prevalent eye diseases, Sight Sciences seeks to
create more effective treatment paradigms that enhance patient care
and supplant conventional outdated approaches. The Company’s OMNI®
Surgical System is an implant-free glaucoma surgery technology (i)
indicated in the United States to reduce intraocular pressure in
adult patients with primary open-angle glaucoma; and (ii) CE Marked
for the catheterization and transluminal viscodilation of Schlemm’s
canal and cutting of the trabecular meshwork to reduce intraocular
pressure in adult patients with open-angle glaucoma. Glaucoma is
the world’s leading cause of irreversible blindness. The SION®
Surgical Instrument is a bladeless, manually operated device used
in ophthalmic surgical procedures to excise trabecular meshwork.
The Company’s TearCare® System is 510(k) cleared in the United
States for the application of localized heat therapy in adult
patients with evaporative dry eye disease due to meibomian gland
dysfunction (“MGD”), enabling clearance of gland obstructions by
physicians to address the leading cause of dry eye disease. The
Company’s SION® Surgical Instrument is a manually operated device
used in ophthalmic surgical procedures to excise trabecular
meshwork. Visit sightsciences.com for more information.
Sight Sciences and TearCare are trademarks of
Sight Sciences registered in the United States. OMNI and SION are
trademarks of Sight Sciences registered in the United States,
European Union and other territories. Hydrus is a registered
trademark of Alcon Vision LLC.
For more information,
visit www.sightsciences.com.
© 2024 Sight Sciences. All rights reserved.
Forward-Looking StatementsThis
press release, together with other statements and information
publicly disseminated by the Company, contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, which statements are
subject to considerable risks and uncertainties. The Company
intends such forward-looking statements to be covered by the safe
harbor provisions for forward-looking statements contained in the
Private Securities Litigation Reform Act of 1995 and includes this
statement for purposes of complying with these safe harbor
provisions. Any statements made in this press release that are not
statements of historical fact, including statements about our
beliefs and expectations, are forward-looking statements and should
be evaluated as such. Forward-looking statements herein include,
without limitation, statements concerning the disposition of the
patent infringement case and its impact on our business and
financial condition, including the final determination of damages,
the amount and timing of other remedies, and the outcome of any
appeal. These statements often include words such as “anticipate,”
“expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,”
“targets,” “projects,” “should,” “could,” “would,” “may,” “will,”
“forecast” and other similar expressions. We base these
forward-looking statements on our current expectations, plans and
assumptions that we have made in light of our experience in the
industry, as well as our perceptions of historical trends, current
conditions, expected future developments and other factors we
believe are appropriate under the circumstances at such time.
Although management believes these forward-looking statements are
based upon reasonable assumptions at the time they are made,
management cannot guarantee their accuracy or completeness.
Forward-looking statements are subject to and involve risks,
uncertainties and assumptions that may cause the Company’s actual
results, performance or achievements to be materially different
from any future results, performance, or achievements predicted,
assumed or implied by such forward-looking statements. Some of the
risks and uncertainties that may cause actual results to materially
differ from those expressed or implied by these forward-looking
statements are discussed under the caption “Risk Factors” in the
Company’s filings with the SEC, as may be updated from time to time
in subsequent filings. These cautionary statements should not be
construed by you to be exhaustive and are made only as of the date
of this press release. Sight Sciences undertakes no obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
required by applicable law.
Investor contact:Philip TaylorGilmartin
Group415.937.5406Investor.Relations@Sightsciences.com
Media contact: pr@SightSciences.com
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