Nanoco Group plc (LON:NANO), a world leader in the development and manufacture of cadmium-free quantum dots and other nanomaterials emanating from its technology platform, today announced that it has filed a patent infringement lawsuit against certain defendants in the United States District Court for the Eastern District of Texas. The lawsuit claims infringement of Nanoco’s U.S. Patent No.’s: US7,588,828; US7,803,423; US7,867,557; US8,524,365; US9,680,068. These patents relate to Nanoco’s unique synthesis and resin capabilities for quantum dots.
Named as defendants in the lawsuit are: (i) Samsung Electronics Co. Ltd; (ii) Samsung Display Co. Ltd; (iii), Samsung Advanced Institute of Technology; (iv) Samsung Electronics Co. Ltd, Visual Display; and (v) Samsung Electronics America all of which are involved in the production or sale of components and fully assembled units for the display market, specifically televisions utilising quantum dots to significantly enhance the viewing experience of the user.
In the lawsuit, Nanoco alleges that each of the defendants has wilfully infringed the Company’s patents and seeks a permanent injunction from further acts of infringement and significant monetary damages.
Nanoco has retained Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., an international IP law firm based in Boston, Massachusetts, USA, to represent it in patent enforcement and litigation. Ward, Smith & Hill, PLLC, an IP law firm based in Longview, Texas, USA, has been retained to act as local counsel.
The Company is continuing to review its strategic options including, but not limited to, a potential sale of the Company through a formal sale process as announced on 5 November and will make a further announcement in due course. The Company’s expectations for cash on hand remain in line with prior communications.
Dr Christopher Richards, Nanoco’s Chairman, commented:
“As a UK based business specialising in the design, scale up and manufacture of novel nano-materials, it is critical that we take steps to protect our platform technology and the IP that underpins it. Historically the Group worked collaboratively with Samsung on developing enhanced quantum dots based on our unique and patented CFQD ® Quantum Dot technology and associated IP. We were therefore naturally disappointed when Samsung ended the collaboration and launched its QD based televisions without entering into either a licensing or supply agreement with Nanoco.
Whilst the lawsuit has been filed, Nanoco continues to remain open to finding a mutually acceptable commercial solution. Nanoco’s action is appropriate to take at this time in the best interest of the Company and its shareholders, to defend one of our core assets. The Board believes that the lawsuit and possible options for monetisation of the Group’s IP are a testament to the quality of Nanoco’s technology and underlying IP.”
