World Heart Corp - WHRT and TSE/WHT Message Board

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Biotech / Medical : World Heart Corp - WHRT and TSE/WHT

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To: Dan Hamilton who wrote (338)	1/25/2000 10:46:00 AM
From: Dan Hamilton	of 500

Short piece from Ottawa Business Journal. I'd be nervous if I were an Abiomed shareholder, and World Heart wins this. ABMD shares are currently in the stratosphere -- around $60 USD. The trial is expected to be completed within 10 days I believe. But then of course there's always the appeals process... Bryden testifies to defend WorldHeart technology Rod Bryden stepped back into the spotlight Monday, but this time hockey was the last thing on his mind. He testified yesterday in a Wilmington, Delaware court that Abiomed Inc. misappropriated trade secrets to develop an artificial heart that will soon undergo clinical trials. The suit was launched by Bryden's WorldHeart in 1998, and it is seeking $8-million in damages. WorldHeart says the two companies collaborated on the technology used to transmit electrical power from outside a patient's body to the artificial heart, but only for research purposes. WorldHeart considers this technology an important trade advantage, as other artificial heart makers use wires. WorldHeart charged the company has built a factory to mass-produce hearts using the technology. "The substance of our case is theft of trade secrets," Bryden testified. He explained he bought the technology from the co-plaintiff Ottawa Heart Institute. WorldHeart CTO Tofy Mussivand said the company gave Abiomed documents about battery chargers, magnetic coils and telemetry used to transmit data and power to the transmitted hearts. "We opened the door of information to them," he testified. "They applied for patents for technology we gave them. The relationship was based on trust. I'm very saddened it has come to this."

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