InMode Files ITC Complaint Against ILOODA and its U.S. Distributor, Cutera

Rhea-AI Summary

InMode Ltd. (Nasdaq: INMD) has filed a complaint with the U.S. International Trade Commission, alleging that ILOODA's SecretRF microneedling system infringes on its U.S. Patent No. 10,799,285. InMode seeks an investigation into the infringement and an exclusion order against the importation of SecretRF. InMode's Chief Technology Officer emphasized the company's commitment to defending its intellectual property, which plays a crucial role in its strategic growth and innovation in minimally invasive medical technologies.

Positive

• Initiation of legal action may enhance InMode's market position by protecting its intellectual property.
• Strong focus on R&D, as indicated by the complaint, may foster innovation and growth in shareholder value.

Negative

• Potential legal disputes could divert resources and management focus from core business operations.
• The outcome of the complaint is uncertain and may impact investor confidence if not resolved favorably.

YOKNEAM, Israel, March 16, 2021 /PRNewswire/ -- InMode Ltd. (Nasdaq: INMD), a leading global provider of innovative medical technologies, has filed a complaint with the United States International Trade Commission ("ITC") alleging ILOODA's SecretRF fractional radio frequency ("RF") microneedling system, distributed in the United States by Cutera, Inc., infringes U.S. Patent No. 10,799,285. Additionally, InMode requested that the ITC initiates an investigation into ILOODA's infringing imports and issue an exclusion order to bar importation of SecretRF.

"As a disrupter in medical aesthetic devices, InMode has committed significant research and development resources to the development of its differentiated RF technologies," InMode's Chief Technology Officer, Dr. Michael Kreindel, commented. "Those efforts have led to an ever-expanding intellectual property (IP) portfolio, a fundamental component of InMode's strategic plan to grow shareholder value. InMode will continue to develop efficacious minimally invasive and hands-free treatments using its patented technology and plans to vigorously defend its IP."

Since its inception, InMode has worked tirelessly to develop state-of-the-art electro-surgical bi-polar radiofrequency devices, bringing breakthrough aesthetic and wellness procedures to the market for the face, body, and skin. Through its ongoing commitment to research and development, InMode has become an innovative leader and has pioneered full body fractional RF technology through the commercialization of the Morpheus8 Subdermal Adipose Remodeling (SARD) device.

About InMode

InMode is a leading global provider of innovative medical technologies. InMode develops, manufactures, and markets devices harnessing novel RF technology. InMode strives to enable new emerging surgical procedures as well as improve existing treatments. InMode has leveraged its medically-accepted minimally-invasive RF technologies to offer a comprehensive line of products across several categories for plastic surgery, gynecology, dermatology, otolaryngology, and ophthalmology. For more information about InMode and its wide array of medical technologies, visit www.inmodemd.com.

Forward-Looking Statements
The information in this press release includes forward-looking statements within the meaning of the federal securities laws. These statements generally relate to future events or InMode's future financial or operating performance. Actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. In some cases, you can identify these statements because they contain words such as "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "predict," "project," "will," "would" and similar expressions that concern our expectations, strategy plans or intentions. Forward-looking statements are based on management's current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict, including with respect to the impact of the COVID-19 global outbreak. As a result, actual results could differ materially from those indicated in these forward-looking statements. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in InMode's Annual Report on Form 20-F filed with the Securities and Exchange Commission on February 10, 2021, risk factors relating to the COVID-19 global outbreak and our future public filings. InMode undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

Investor Relations Contact:
Miri Segal-Scharia
MS-IR LLC
ir@inmodemd.com
917-607-8654 

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SOURCE InMode Ltd.

FAQ

What is the recent ITC complaint filed by InMode (INMD) about?

InMode filed a complaint alleging that ILOODA's SecretRF microneedling system infringes its U.S. Patent No. 10,799,285.

What does InMode aim to achieve with its ITC complaint against Cutera (INMD)?

InMode seeks an investigation into the infringement and an exclusion order to prevent the importation of SecretRF.

How does the ITC complaint affect InMode's (INMD) market position?

The complaint may strengthen InMode's market position by protecting its intellectual property rights.

What is InMode's strategy regarding research and development (INMD)?

InMode is committed to R&D to innovate and enhance its intellectual property portfolio as a driver for shareholder value.