IRVINE - Axonics, Inc. (NASDAQ:AXNX), a medical technology company, announced today that the Patent Trial and Appeal Board (PTAB) has ruled on a patent dispute involving Medtronic (NYSE:MDT) patents. The PTAB invalidated 10 of the 15 claims in Medtronic's '314 patent contested by Axonics, while maintaining the challenged claims in the '756 patent, despite a dissenting opinion from one Administrative Patent Judge.
The patents in question, which expired in 2021 and 2022, were asserted by Medtronic against Axonics' proprietary tined lead design. The district court case where Medtronic has asserted these patents is currently on hold due to these inter partes reviews (IPRs) as well as pending IPRs on other Medtronic patents. Axonics plans to seek further review of the PTAB's decision on the claims that were not found unpatentable.
Raymond W. Cohen, CEO of Axonics, expressed satisfaction with the PTAB's decision regarding the '314 patent and reiterated the company's commitment to defending itself against Medtronic's claims. Axonics focuses on developing products for adults with bladder and bowel dysfunction and was recently recognized as one of the fastest-growing companies in the Americas by the Financial Times.
The announcement comes amid an ongoing legal battle with Medtronic and a planned merger with Boston Scientific Corporation (NYSE:BSX), which is subject to stockholder approval and regulatory conditions. The merger, if completed, would result in Axonics becoming a wholly owned subsidiary of Boston Scientific.
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