CTI Molecular Imaging, Inc. Announces Dismissal of Lawsuit
28 February 2005 - 11:00PM
PR Newswire (US)
CTI Molecular Imaging, Inc. Announces Dismissal of Lawsuit
KNOXVILLE, Tenn., Feb. 28 /PRNewswire-FirstCall/ -- CTI Molecular
Imaging, Inc. (NASDAQ:CTMI), a leading provider of positron
emission tomography (PET) equipment, molecular probes and services,
today announced that the U.S. District Court for the Eastern
District of Tennessee recently issued an order granting summary
judgment in favor of the company and CTI PET Systems, Inc. (which
does business as CPS Innovations) as defendants in a patent
infringement case brought by the Board of Regents, The University
of Texas System and M.D. Anderson Cancer Center v. CTI Molecular
Imaging, Inc., CTI, Inc., and CTI PET Systems, Inc. In the court's
order issued on February 15, 2005, the district court granted the
company's and CPS Innovations' motion for summary judgment on non-
infringement of patents held by the University of Texas System and
also denied the plaintiffs' motion for summary judgment of
infringement by the plaintiffs. The court's order operates as a
complete dismissal of all of the claims brought by the Board of
Regents, The University of Texas System and M.D. Anderson Cancer
Center. In commenting on the favorable outcome, Ronald Nutt, Ph.D.,
President and Chief Executive Officer of CTI, stated, "We are very
pleased with the decision by the trial court. CTI has consistently
maintained that our patented detector block design does not
infringe upon the patents issued to the University of Texas System
and the ruling by the trial court is a complete vindication of our
position." About CTI Molecular Imaging: CTI Molecular Imaging, Inc.
is a leading supplier of products and services for positron
emission tomography (PET), a diagnostic imaging technology used in
the detection and treatment of cancer, neurological disorders and
cardiac disease. Additional information is available at:
http://www.ctimi.com/ . About PET and PET/CT: PET images the
biology of diseases at the molecular level, often before anatomic
changes are visible or, in some cases, before symptoms appear.
Diseases are biological processes and it is these processes that
PET examines. PET/CT is an imaging technology that combines the
biological examination of patients by PET with the CT images of the
body's structural detail. PET/CT technology improves the diagnostic
accuracy and treatment management of patients by providing
surgeons, radiation oncologists and other physicians with precise
anatomical landmarks associated with the disease condition as
determined by PET. PET's whole-body imaging capability helps
physicians improve their ability to detect and determine the
location, extent and stage of cancer, neurological disorders and
cardiac disease. By improving diagnosis, PET scans aid physicians
in selecting better courses of treatment, as well as assessing
whether treatment is effective or should be changed. Recent
published clinical trials have shown that in a wide array of
cancers, the use of PET has caused the treatment to be changed for
15 to 50% of patients, depending on the specific clinical question.
In addition, PET and PET/CT provide both the patient and their
physician with a degree of certainty that is often unavailable
through other imaging methods. Certain matters discussed in this
press release and the related conference call constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements may be identified by words such as "believe," "expect,"
"anticipate," "intend," "estimate" or similar expressions. CTI
undertakes no obligation to update or revise any forward-looking
statements. Further information regarding risks, uncertainties and
other factors that could adversely affect CTI or cause actual
results to differ materially from those anticipated in
forward-looking statements are included in CTI's Annual Report on
Form 10-K for the fiscal year ended September 30, 2004 and
Quarterly Report on Form 10-Q for the quarter ended December 31,
2004. DATASOURCE: CTI Molecular Imaging, Inc. CONTACT: David N.
Gill of CTI Molecular Imaging, Inc., +1-865-218-2000 Web site:
http://www.ctimi.com/
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