Vigmed granted utility patent in China for its first needlestick safety product developed specifically for the Chinese market
Vigmed received notice today from the Chinese patent authorities that a utility patent has been granted for its "Y-type" IV catheter developed specifically for the Chinese market. The patent is valid for 10 years and provides Vigmed legal protection against copying of the product in question. Interest in safe and high quality healthcare products is increasing rapidly in the Chinese market as a result of both patients’ and authorities’ increasing quality demands. The problem of needlestick injuries is particularly concerning in China where blood-borne diseases such as Hepatitis are widespread. Vigmed’s products have therefore generated great interest in China. The company already has a presence in the country through the 70%-owned subsidiary Vigmed China Ltd.
The specially developed "Y-type" IV catheter for China is a version of Vigmed® CLiP® developed to conform to the protocols and procedures that are standard within healthcare in China. CLiP is a unique and secure needle cap for IV catheters that is self-activating and automatically protects both patients and staff against accidental and potentially contaminated needlesticks. Vigmed’s products are characteristically very user-friendly and safe, whilst also being cost effective. The user needs and preferences are always given precedence when product design and functionality are being developed. The response to Vigmed’s products from both users and distributors has been very positive and there are great expectations for the market launches that start in the fourth quarter of 2013.
Vigmed work proactively using both design and utility patents to protect their unique products from copying. The company has already been awarded a number of international design and utility patents, and more are expected as new products are developed and improved. Vigmed has so far submitted more than 40 patent applications divided into a number of patent families. The company owns all its patents and patent applications without limitations. The first patent application was submitted in the third quarter of 2009. The original patents and patent applications all have priority dates in the period 2010-2013, so their validity is near maximal.
The strategy is to protect Vigmed’s technology and products in all geographical areas deemed to be of importance. Vigmed intends to expand its patent portfolio continuously with both offensive and defensive design and utility patents. In addition to patented products and technologies Vigmed owns know-how that is not protected by patents. Vigmed strives to protect such information through having confidentiality agreements with employees, consultants and partners for example.
For further information contact:
Chairman of the Board Lennart Holm (+46 70-630 8562) or CEO Finn Ketler (+46 42 600 5311).
Please feel free to visit the company’s new website at www.vigmed.com
Vigmed is a Swedish medical technology company whose mission is to eliminate needlestick injuries by offering the market unique needle-protected products. Vigmed is headquartered in Helsingborg, Sweden, and has approximately 15 employees. Vigmed’s share is traded on NASDAQ OMX First North in Stockholm (ticker VIG) and has approximately 5 400 shareholders. Remium Nordic AB is the Company’s Certified Advisor. Additional information such as company description, a video presentation and risk factors can be found on Vigmed’s home page: www.vigmed.com
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