IMI provides update on patents
25 February 2005 - 4:40AM
PR Newswire (US)
IMI provides update on patents TORONTO, Feb. 24
/PRNewswire-FirstCall/ -- IMI International Medical Innovations
Inc. (TSX: IMI; Amex: IME) has received notice from the United
States Patent and Trademark Office (USPTO) regarding IMI's petition
to accept unavoidably delayed payments of maintenance fees for two
U.S. patents related to IMI's skin tissue cholesterol technology.
As previously announced on August 3, 2004, these patents had been
listed as abandoned by the USPTO for failure to pay maintenance
fees. The failure to pay these maintenance fees appears to have
occurred while the files were being transferred between U.S. and
Canadian patent agents. The USPTO identifies specific items that
IMI should address and provides a two-month period during which IMI
may submit a request for consideration. Until that petition is
granted by the USPTO, IMI's patent petitions will be listed as
dismissed. Specifically, the USPTO has asked for more information
regarding the credentials and procedures of IMI's patent agents and
their performance of clerical functions related to the payment of
the maintenance fees. "We believe that the USPTO's items can be
addressed and we will be filing our response within the required
timeframe," said Dr. Brent Norton, President and Chief Executive
Officer. About IMI IMI is a world leader in predictive medicine,
dedicated to developing rapid, non-invasive tests for the early
detection of life-threatening diseases. IMI's cardiovascular
products, which are branded as PREVU(x) Skin Sterol Test, are
marketed and distributed worldwide by McNeil Consumer Healthcare,
Canada. The company's cancer tests include ColorectAlert(TM),
LungAlert(TM) and a breast cancer test. IMI's head office is
located in Toronto, and its research and product development
facility is at McMaster University in Hamilton, Ontario. For
further information, please visit http://www.imimedical.com/. This
press release contains forward-looking statements. These statements
involve known and unknown risks and uncertainties, which could
cause the Company's actual results to differ materially from those
in the forward- looking statements. Such risks and uncertainties
include, among others, the lack of operating profit and
availability of funds and resources to pursue R&D projects, the
successful and timely completion of clinical studies, the
successful development or marketing of the Company's products,
reliance on third-party manufacturers, the competitiveness of the
Company's products if successfully commercialized, the ability of
the Company to take advantage of business opportunities,
uncertainties related to the regulatory process, and general
changes in economic conditions. In addition, while the Company
routinely obtains patents for its products and technology, the
protection offered by the Company's patents and patent applications
may be challenged, invalidated or circumvented by our competitors
and there can be no guarantee of our ability to obtain or maintain
patent protection for our products or product candidates. Investors
should consult the Company's quarterly and annual filings with the
Canadian and U.S. securities commissions for additional information
on risks and uncertainties relating to the forward-looking
statements. Investors are cautioned not to rely on these
forward-looking statements. IMI is providing this information as of
the date of this press release and does not undertake any
obligation to update any forward-looking statements contained in
this press release as a result of new information, future events or
otherwise. DATASOURCE: IMI International Medical Innovations Inc.
CONTACT: Company Contacts: Sarah Borg-Olivier, Director,
Communications, T: (416) 222-3449, ; U.S. Investor Contact: Andrea
Faville, The Investor Relations Group, T: (212) 825-3210,
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