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Axonics Says Won Patent Case Against Medtronic

Jury finds no infringement on 3 patents

Axonics Inc. (Nasdaq: AXNX), a maker of medical devices to treat incontinence, said a jury has returned a unanimous verdict in a patent infringement lawsuit brought by larger rival Medtronic in the U.S. District Court for the Central District of California.

The jury found that Axonics does not infringe any of the three patents alleged in the suit, the Irvine-based company said.

โ€œAs we have said since this case was first filed in late 2019, our view is that Medtronicโ€™s lawsuit was initiated to stifle competition, limit patient and physician choice, and protect the incumbentโ€™s monopoly in sacral neuromodulation,โ€ Axonics founder and Chief Executive Raymond Cohen said in a statement.

Medtronic said it “respectfully disagrees with the juryโ€™s verdict and will file post-trial motions, and an appeal, if necessary, to overturn this verdict.” Medtronic also intends to continue its pending case against Axonics at the International Trade Commission.

Cohen was named a winner of the Business Journal 2024 Innovator of the Year award at a Sept. 12 ceremony. For more information, see the Sept. 23 print edition of the Business Journal.

Shares of Axonics were relatively unchanged today at $69.27 and a $3.5 billion market cap. The company is scheduled to be acquired later this year by Boston Scientific.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peterโ€™s work reflects a commitment to impactful storytelling. Peterโ€™s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peterโ€™s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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