NASDAQ, TSX: NVCN
VANCOUVER, Jan. 22, 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,
pursuant to a settlement reached with Edwards Lifesciences PVT, Inc. and Edwards Lifesciences (Canada) Inc. (collectively, "Edwards"), the patent infringement action that Edwards had previously commenced
in the Federal Court of Canada against Neovasc, Boston Scientific and Livanova, will be
dismissed on a no-costs basis.
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.
This news release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act
of 1995 and applicable Canadian securities laws regarding the dismissal of the claim brought by Edwards and the rapidly growing
cardiovascular marketplace. Words and phrases such as "may", "intends", "expect", "continue" and "will", and similar words or
expressions, are intended to identify these forward-looking statements. Forward-looking statements are based on estimates and
assumptions made by the Company in light of its experience and its perception of historical trends, current conditions and
expected future developments, as well as other factors that the Company believes are appropriate in the circumstances. 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 possibility that the Company's common shares may be delisted from
the Nasdaq Capital Market or the Toronto Stock Exchange, including Nasdaq's discretionary public interest authority to apply more
stringent criteria for continued listing or suspend or delist securities, which could affect their market price and liquidity;
risks relating to the warrants (the "Warrants") and senior secured convertible notes (the "Notes") issued pursuant to the
November 2017 underwritten public offering and concurrent private placement (together, the "2017
Financings"), 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 Warrants and Notes issued pursuant to the 2017 Financings, 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 exercise of Warrants or
conversion of Notes issued pursuant to the 2017 Financings, which may encourage short sales by third parties; 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 Series C warrants 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 Management's Discussion and Analysis for the
quarter ended September 30, 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-dismissal-of-claim-brought-by-edwards-lifesciences-300781769.html
SOURCE Neovasc Inc.
View original content: http://www.newswire.ca/en/releases/archive/January2019/22/c8847.html