Type:Notice
Citation:86 FR 11947
Reading Time:about a minute or two
The United States Patent and Trademark Office has granted a one-year interim extension for U.S. Patent No. 6,953,476, which belongs to Neovasc Medical Ltd. This patent covers an implantable device called Reducer®, and the extension was needed because the regulatory review by the Food and Drug Administration is expected to take longer than the patent's original expiration date. The extension allows Neovasc more time to prepare while waiting for the FDA's approval process to conclude.
Simple Explanation
The government gave an extra year for a company to keep their special idea called a "patent" safe because they are still waiting for a big important check from another part of the government to make sure it's safe to use.