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Nanoco Group PLC (NANO)

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Wednesday 12 May, 2021

Nanoco Group PLC

Litigation Update

RNS Number : 2987Y
Nanoco Group PLC
12 May 2021
 

12 May 2021

NANOCO GROUP PLC

("Nanoco", the "Company" or the "Group")

 

Litigation Update

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 an update on its litigation against Samsung for the alleged wilful infringement of the Group's IP.

 

On 17 February 2020, the Group announced that it had filed a patent infringement lawsuit against various Samsung entities in the United States District Court for the Eastern District of Texas (the 'Court'). Subsequently, on 29 March 2021, the Group reported that it was pleased with the initial indications arising from the claim construction hearing (also known as a 'Markman' hearing) that was held on 26 March 2021. A Markman hearing establishes the Court's interpretation of certain words or phrases pertinent to the patents and the case. The Court was asked to construe the meanings of five different words or terms used in the patents that Nanoco alleges Samsung has infringed. These definitions can be important to either side's arguments but not necessarily so.

 

The Court has now issued its final report on the Markman hearing. The findings of the report are substantially unchanged from the preliminary construction proposed by the judge at the Markman hearing. The Judge effectively rejected four of the five constructions proposed by Samsung and rejected one of the constructions proposed by Nanoco. In four of the five patents in the case, Nanoco's constructions were upheld and in the fifth patent Nanoco and Samsung each had one construction upheld.

 

As reported previously, the Patent Trial and Appeal Board is expected to rule in May 2021 on whether or not it will grant Samsung's request to institute inter partes reviews ('IPRs') of the five patents in the case. This is a parallel process which examines the validity of the patents themselves. If instituted, an IPR process can take 12 months. To succeed in the case, Nanoco needs to win the IPRs and the trial.

 

A trial date for the jury hearing into the alleged wilful infringement of the Group's IP by Samsung has been set for October 2021, though this may yet be subject to delay.

 

Brian Tenner, Chief Executive Officer of Nanoco Group plc, said:

" We are pleased with the final report on the Markman hearing. While this is just one further step in a lengthy process, it is positive in respect of the credibility of Nanoco's patents and therefore maintains our confidence in our case that Samsung wilfully infringed our IP ahead of the trial in October."

 

- Ends -

 

For further information, please contact:

Nanoco Group PLC :      +44 (0) 161 603 7900

Brian Tenner, CEO

Liam Gray, Company Secretary

Caroline Watson, Investor Relations Manager

[email protected]

 

Peel Hunt:                                                                                                                                  +44 (0) 20 7418 8900

Edward Knight

Nick Prowting

James Smith

 

MHP Communications :                                                                                                          +44 (0) 203 128 8788

Reg Hoare

Giles Robinson

Pete Lambie

[email protected]

 

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™ 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®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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