Benzinga | Sep 23, 2021 09:59AM EDT

US Patent Office Rejects Three More Axonics' Challenge To Medtronic Patents

* The Patent Trial and Appeal Board (PTAB) of the U.S. Patent and Trademark Office has affirmed three Medtronic plc (NYSE:MDT) patents related to its InterStim sacral neuromodulation device family challenged by Axonics Inc (NASDAQ:AXNX).

* These patents relate to recharging technology.

* Today's decisions complete the review process initiated by Axonics to challenge the validity of the seven patents involved in the IP infringement case brought by Medtronic.

* Cumulatively, the PTAB has now affirmed claims in all seven of the Medtronic patents.

* Medtronic said it will now request that the U.S. District Court in the Central District of California lift the stay on an intellectual property infringement case and resume proceedings.

* Earlier this month, the appeals board rejected challenges to three other InterStim patents from Axonics.

* Price Action: MDT stock traded 0.30% higher at $129.30, and AXNX stock traded 0.07% lower at $69.73 on the last check Thursday.