TIDMNANO
RNS Number : 7448L
Nanoco Group PLC
17 May 2022
FOR IMMEDIATE RELEASE 17 May 2022
Nanoco Group PLC
( " Nanoco, the " Group", or the " Company")
Litigation Update - PTAB uphold all 47 Nanoco patent claims
Nanoco Group plc (LSE: NANO), a world leader in the development
and manufacture of cadmium-free quantum dots and other specific
nanomaterials emanating from its technology platform, announces a
significant update to its litigation against Samsung for the
willful infringement of the Group's IP.
The US Patent Trial and Appeal Board ('PTAB') has ruled in
favour of Nanoco in respect of all 47 claims in the five patents
that were subject to inter partes review (IPRs) in the case.
As previously announced, Samsung had applied to the PTAB
requesting the institution of IPRs of each of the five patents in
the case. An IPR is a standard part of IP litigation and examines
the validity of the patents themselves. It often runs in parallel
with the judicial process. In May 2021, PTAB announced its decision
to institute IPRs over the five patents.
The Board and its advisers are reviewing the detailed ruling by
the PTAB with respect to all of the claims and patents. While
Samsung can be expected to appeal the final PTAB decisions, the
Company believes it is likely that the stay on the court process
will now be lifted at the hearing scheduled for 2 June 2022 in the
Eastern District of Texas. If the stay is lifted, pre-trial motions
will then be considered by the judge and the Company expects a
revised trial date to be scheduled for the fourth quarter of
calendar year 2022.
Brian Tenner, Chief Executive Officer of Nanoco Group plc,
said:
" The strength of Nanoco's case has been amply demonstrated by
the PTAB finding in favour of every single one of the 47 claims
under the five patents. T he question of the validity of our
intellectual property has now been very clearly resolved in favour
of Nanoco.
"As a result, the trial can now focus on the issue of Samsung's
alleged wilful infringement and the appropriate level of
damages.
"Nanoco has overcome the first of two major hurdles in the
litigation, the validity of our IP. As a result, our confidence in
this case has increased further. While there is still much to be
done, successfully overcoming this hurdle allows a straight run in
to a trial later in 2022. A favourable trial outcome should then
deliver a substantial inflection point for Nanoco's prospects and
shareholder value."
- Ends -
For further information, please contact:
Nanoco Group PLC :
Brian Tenner, CEO
+44 (0) 161 603 7900
Liam Gray, CFO & Company Secretary +44 (0) 161 603 7900
Peel Hunt:
Edward Knight +44 (0) 20 7418 8900
James Smith
MHP Communications :
+44 (0) 203 128 8990
Reg Hoare
Pete Lambie
Charlie Protheroe
nanoco@mhpc.com
The person responsible for arranging for the release of this
announcement on behalf of Nanoco is Liam Gray, Company
Secretary.
MAR
This Announcement contains inside information for the purposes
of article 7 of the Market Abuse Regulation (EU) 596/2014 which is
part of UK law by virtue of the European Union (withdrawal) Act
2018. Upon the publication of this announcement via a Regulatory
Information Service, this inside information will be considered to
be in the public domain.
FORWARD LOOKING STATEMENTS
This announcement (including information incorporated by
reference in this announcement) and other information published by
Nanoco may contain statements about Nanoco that are or may be
deemed to be forward looking statements. Such statements are
prospective in nature. All statements other than historical
statements of facts may be forward looking statements. Without
limitation, statements containing the words "targets", "plans",
"believes", "expects", "aims", "intends", "will", "may",
"anticipates", "estimates", "projects" or "considers" or other
similar words may be forward looking statements.
Forward looking statements inherently contain risks and
uncertainties as they relate to events or circumstances in the
future. Important factors such as business or economic cycles, the
terms and conditions of Nanoco's financing arrangements, tax rates,
or increased competition may cause Nanoco's actual financial
results, performance or achievements to differ materially from any
forward looking statements. Due to such uncertainties and risks,
readers are cautioned not to place undue reliance on such forward
looking statements, which speak only as of the date hereof. Nanoco
disclaims any obligation to update any forward looking or other
statements contained herein, except as required by applicable
law.
Notes for editors:
About Nanoco Group plc
Nanoco (LSE: NANO) harnesses the power of nano-materials.
Nano-materials are materials with dimensions typically in the range
1 - 100 nm. Nano-materials have a range of useful properties,
including optical and electronic. Quantum dots are a subclass of
nano-material that have size-dependent optical and electronic
properties. The Group produces quantum dots and other
nano-materials. Within the sphere of quantum dots, the Group
exploits different characteristics of the quantum dots to target
different performance criteria that are attractive to specific
markets or end-user applications such as the Display, Sensor and
Electronics markets. An interesting property of quantum dots is
their absorption spectrum. Nanoco's HEATWAVE(TM) quantum dots can
be tuned to absorb light at different wavelengths across the
near-infrared spectrum, rendering them useful for applications
including image sensors. Another interesting property of quantum
dots is photoluminescence: the emission of longer wavelength light
upon excitation by light of a shorter wavelength. The colour of
light emitted depends on the particle size. Nanoco's CFQD(R)
quantum dots are free of cadmium and other toxic heavy metals, and
can be tuned to emit light at different wavelengths across the
visible and infrared spectrum, rendering them useful for a wide
range of applications including displays, lighting and biological
imaging.
Nanoco was founded in 2001 and is headquartered in Manchester,
UK, with a US subsidiary, Nanoco Inc., in Concord, MA. Nanoco
continues to build out a world-class, patent-protected IP portfolio
generated both by its own innovation engine, as well as through
acquisition.
Nanoco is listed on the Main Market of the London Stock Exchange
and trades under the ticker symbol NANO. For further information
please visit: www.nanocotechnologies.com.
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