American Medical Systems Announces Settlement with Celsion Corporation.MINNEAPOLIS -- American Medical Systems Holdings, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AMMD) announced today that it has entered into a settlement and licensing agreement with Celsion Corporation (AMEX AMEX See: American Stock Exchange :CLN) and will receive an undisclosed licensing fee and ongoing royalty payments from sales of Celsion's Prolieve([R]) product. AMS has agreed to subsequently dismiss the lawsuit it filed against Celsion in the Delaware district court on September 28, 2006. "Intellectual property fuels the engine of AMS pelvic health innovation," said Ross Longhini, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of AMS, "and we will continue to vigorously protect it when challenged. We are pleased with the agreement we've reached with Celsion, as well as their recognition of its value, and will continue to bring innovative solutions to our physicians and their patients." About American Medical Systems American Medical Systems, headquartered in Minnetonka, Minnesota and including its recently concluded acquisition of Laserscope, is a diversified supplier of medical devices and procedures to cure erectile dysfunction, benign prostatic hyperplasia benign prostatic hyperplasia n. Abbr. BPH A nonmalignant enlargement of the prostate gland commonly occurring in men after the age of 50, and sometimes leading to compression of the urethra and obstruction of the flow of urine. , incontinence, menorrhagia menorrhagia /men·or·rha·gia/ (men?ah-ra´jah) hypermenorrhea. men·or·rha·gia n. See hypermenorrhea. , prolapse prolapse Protrusion of an internal organ out of its normal place, usually of the rectum or uterus outside the body when supporting muscles weaken. The membrane lining the rectum can push out through the anus, most often in old people with constipation who strain during and other pelvic disorders in men and women. These disorders can significantly diminish one's quality of life and profoundly affect social relationships. In recent years, the number of people seeking treatment has increased markedly as a result of longer lives, higher quality-of-life expectations and greater awareness of new treatment alternatives. American Medical Systems' products reduce or eliminate the incapacitating effects of these diseases, often through minimally invasive therapies. The Company's products were used to treat approximately 240,000 patients in 2006. More information about the Company and its products can be found at its website www.AmericanMedicalSystems.com and in the Company's Annual Report on Form 10-K for 2005 and its other SEC filings. |
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