InnoMed Files Lawsuit; Seeks Injunction to Protect InnoMed's "NASAL-AIRE" Interface Device

Tuesday, January 21, 2003

Business Editors/Legal, Health & Medical Writers

InnoMed Technologies, Inc. announced today that it has filed a lawsuit in federal district court to protect InnoMed's popular "NASAL-AIRE" nasal cannula interface device. The lawsuit alleges that the owners of a similar product misappropriated InnoMed's confidential drawings and trade secrets, and used InnoMed's proprietary information to copy the design of InnoMed's "NASAL-AIRE" device. The lawsuit asserts that Worldwide Medical Technologies, the manufacturer of the similar product, is competing unfairly with InnoMed and that its copying is likely to cause confusion among consumers. InnoMed's lawsuit seeks a preliminary and permanent injunction barring the manufacture and sale of the Worldwide Medical product, called "SPIRITUS," and unspecified money damages.

The dispute arises out of InnoMed's acquisition in April 2001 of the assets of the former Nasal Aire Technologies, Inc. and the "NASAL-AIRE" cannula invented by Tom Wood, now a consultant with InnoMed. The suit alleges that the former owners of Nasal Aire Technologies and a consultant retained copies of Mr. Wood's proprietary drawings and manufacturing molds relating to his invention, which they then provided to Worldwide Medical. The suit includes claims for violations of federal and state law for unfair competition, theft of trade secrets, breach of contract, and fraud. InnoMed seeks injunction barring the further sales of the Worldwide Medical nasal interface product and unspecified money damages.

"InnoMed is committed to defending its ownership of the design of the `NASAL-AIRE' brand product, which was introduced into the respiratory treatment markets by InnoMed through substantial clinical trials, investment in patient education, and other product promotions," said Patrick Karem, InnoMed's CEO. The case is pending in Orlando, Florida. A trial date has not yet been set.
InnoMed Technologies, Inc. is a 21st Century medical technologies company. The company is poised to bring new and more effective medical products and devices to the public through a medical development and engineering team, as well as acquisitions of other medical related companies. InnoMed Technologies, Inc. has primarily been a research oriented, privately held, medical technology development company for the past four years. The company owns a full utility patent and patents pending. More information regarding InnoMed Technologies is available at http://www.innomedinc.com.

A Private Securities Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in written statements to be made) contain statements that are forward-looking, such as those relating to consummation of the transaction, anticipated future revenue of the Company, and success of current public offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ materially from those expressed in any forward looking statements.