Report of Foreign Issuer (6-k)
18 April 2019 - 7:00AM
Edgar (US Regulatory)
Securities
and Exchange Commission
w
ashington,
D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of
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April
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2019
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Commission File Number
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001-36458
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Neovasc
Inc.
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(Translation of registrant’s name into English)
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Suite 5138 - 13562 Maycrest Way
Richmond, British Columbia, Canada, V6V 2J7
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(Address of principal executive offices)
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Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F:
Indicate by check mark if the registrant is
submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):
DOCUMENTS INCLUDED AS PART OF THIS REPORT
Document
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Document 1
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News Release dated April 17, 2019 - Neovasc Announces Resolution of Last Remaining Active Litigation
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DOCUMENT 1
Neovasc Announces Resolution of Last Remaining
Active Litigation
NASDAQ, TSX: NVCN
VANCOUVER, April 17, 2019 /CNW/ - Neovasc
Inc. ("Neovasc" or the "Company") (NASDAQ: NVCN)(TSX: NVCN), a leader in the development of minimally invasive
transcatheter mitral valve replacement technologies and in the development of minimally invasive devices for the treatment of refractory
angina, today announced that the Company has resolved the three claims for correction of patent inventorship made by Edwards
Lifesciences CardiAQ LLC ("CardiAQ") in the United States District Court for the District of Massachusetts ("the
Court").
For reasons of efficiency and economy, and
without reaching the merits of the dispute, the parties agreed to a judgment ordering CardiAQ's Jeremy Brent Ratz and Arshad Quadri
be added as co-inventors of U.S. Patent No. 9,241,790, U.S. Patent No. 9,248,014 and U.S. Patent No. 9,770,329, which the Court
ordered. Each of these patents is directly related to and claims priority to the patent application that led to U.S. Patent
No. 8,579,964, on which the Court had previously added Mr. Ratz and Dr. Quadri as co-inventors in November, 2016. In summary:
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Each side agreed to bear
its own fees and costs in the matter;
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No money damages were
at issue or awarded; and
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The addition of inventors
will not restrict Neovasc from practicing these patents going forward.
"We have been working diligently to clear
the Company from a number of claims and the conclusion of this matter is also the conclusion of the last active claims that the
Company is aware of," commented Fred Colen, Neovasc CEO. "The German Appeals Court win provided us with further
strategic options to resolve these claims and we have maintained the rights to practice our entire Tiara patent portfolio of 10
granted U.S. patents and 16 pending U.S. patents in order to preserve the unique and proprietary nature of our Tiara system. We
will also continue to add to this portfolio as we seek to optimize our transapical design and protect our transfemoral, transseptal
version of the Tiara."
About Neovasc Inc.
Neovasc is a specialty medical device company that develops, manufactures and markets products for the rapidly growing cardiovascular
marketplace. Its products include the Neovasc Reducer™ (the "Reducer"), for the treatment of refractory angina,
which is not currently commercially available in the United States and has been commercially available in Europe since 2015, and
the Tiara™, for the transcatheter treatment of mitral valve disease, which is currently under clinical investigation in the
United States, Canada and Europe. For more information, visit: www.neovasc.com.
Certain statements in this news release contain
forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian
securities laws that may not be based on historical fact, including without limitation statements containing the words "believe",
"may", "plan", "will", "estimate", "continue", "anticipate", "intend",
"expect" and similar expressions. Forward-looking statements may involve, but are not limited to, beliefs or expectations
regarding the Company's ability to continue to add to its patent portfolio and the rapidly growing cardiovascular marketplace.
Many factors and assumptions could cause the Company's actual results, performance or achievements to differ materially from those
expressed or implied by the forward-looking statements, including, without limitation, the substantial doubt about the Company's
ability to continue as a going concern; risks relating to the senior secured convertible notes (the "Notes") issued pursuant
to the November 2017 private placement (the "2017 Financing"), resulting in significant dilution to the Company's shareholders;
risks relating to the Company's need for significant additional future capital and the Company's ability to raise additional funding;
risks relating to cashless exercise and adjustment provisions in the Notes issued pursuant to the 2017 Financing, which could make
it more difficult and expensive for the Company to raise additional capital in the future and result in further dilution to investors;
risks relating to the sale of a significant number of common shares of the Company; risks relating to the conversion of Notes issued
pursuant to the 2017 Financing, which may encourage short sales by third parties; risks relating to the possibility that the common
shares of the Company may be delisted from the Nasdaq Capital Market or the Toronto Stock Exchange, which could affect their market
price and liquidity; risks relating to the Company's conclusion that it did not have effective internal control over financial
reporting as at December 31, 2018; risks relating to the Company's common share price being volatile; risks relating to the influence
of significant shareholders of the Company over the Company's business operations and share price; risks relating to the Company's
significant indebtedness, and its effect on the Company's financial condition; risks relating to claims by third parties alleging
infringement of their intellectual property rights; risks relating to lawsuits that the Company is subject to, which could divert
the Company's resources and result in the payment of significant damages and other remedies; the Company's ability to establish,
maintain and defend intellectual property rights in the Company's products; risks relating to results from clinical trials of the
Company's products, which may be unfavorable or perceived as unfavorable; the Company's history of losses and significant accumulated
deficit; risks associated with product liability claims, insurance and recalls; risks relating to use of the Company's products
in unapproved circumstances, which could expose the Company to liabilities; risks relating to competition in the medical device
industry, including the risk that one or more of the Company's competitors may develop more effective or more affordable products;
risks relating to the Company's ability to achieve or maintain expected levels of market acceptance for the Company's products,
as well as the Company's ability to successfully build its in-house sales capabilities or secure third-party marketing or distribution
partners; the Company's ability to convince public payors and hospitals to include the Company's products on their approved products
lists; risks relating to new legislation, new regulatory requirements and the efforts of governmental and third-party payors to
contain or reduce the costs of healthcare; risks relating to increased regulation, enforcement and inspections of participants
in the medical device industry, including frequent government investigations into marketing and other business practices; risks
associated with the extensive regulation of the Company's products and trials by governmental authorities, as well as the cost
and time delays associated therewith; risks associated with post-market regulation of the Company's products; health and safety
risks associated with the Company's products and industry; risks associated with the Company's manufacturing operations, including
the regulation of the Company's manufacturing processes by governmental authorities and the availability of two critical components
of the Reducer; risk of animal disease associated with the use of the Company's products; risks relating to the manufacturing capacity
of third-party manufacturers for the Company's products, including risks of supply interruptions impacting the Company's ability
to manufacture its own products; risks relating to the Company's dependence on limited products for substantially all of the Company's
current revenues; risks relating to the Company's exposure to adverse movements in foreign currency exchange rates; risks relating
to the possibility that the Company could lose its foreign private issuer status under U.S. federal securities laws; risks relating
to breaches of anti-bribery laws by the Company's employees or agents; risks associated with future changes in financial accounting
standards and new accounting pronouncements; risks relating to the Company's dependence upon key personnel to achieve its business
objectives; the Company's ability to maintain strong relationships with physicians; risks relating to the sufficiency of the Company's
management systems and resources in periods of significant growth; risks associated with consolidation in the health care industry,
including the downward pressure on product pricing and the growing need to be selected by larger customers in order to make sales
to their members or participants; risks relating to the Company's ability to successfully identify and complete corporate transactions
on favorable terms or achieve anticipated synergies relating to any acquisitions or alliances; risks relating to the Company's
ability to successfully enter into fundamental transactions as defined in the Notes issued pursuant to the 2017 Financings; anti-takeover
provisions in the Company's constating documents which could discourage a third party from making a takeover bid beneficial to
the Company's shareholders; and risks relating to conflicts of interests among the Company's officers and directors as a result
of their involvement with other issuers. These risk factors and others relating to the Company are discussed in greater detail
in the "Risk Factors" section of the Company's Annual Report on Form 20-F and in the Management's Discussion and Analysis
for the year ended December 31, 2018 (copies of which may be obtained at www.sedar.com or www.sec.gov). The Company has no intention
and undertakes no obligation to update or revise any forward-looking statements beyond required periodic filings with securities
regulators, whether as a result of new information, future events or otherwise, except as required by law.
View
original content:http://www.prnewswire.com/news-releases/neovasc-announces-resolution-of-last-remaining-active-litigation-300834121.html
SOURCE Neovasc Inc.
View original content: http://www.newswire.ca/en/releases/archive/April2019/17/c7796.html
%CIK: 0001399708
For further information:
Chris Clark, Chief Financial Officer,
Neovasc Inc., 604 248-4138, cclark@neovasc.com; Jeremy Feffer, LifeSci Advisors, LLC, 212-915-2568, jeremy@lifesciadvisors.com
CO: Neovasc Inc.
CNW 15:42e 17-APR-19
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
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Neovasc
Inc.
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(Registrant)
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Date:
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April 17, 2019
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By:
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/s/
Chris Clark
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Name: Chris Clark
Title: Chief
Financial Officer
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