TIDMNANO
RNS Number : 6004W
Nanoco Group PLC
19 August 2022
FOR IMMEDIATE RELEASE 19 August 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE
SAME HAS BEEN RETAINED IN UK LAW AS AMED BY THE MARKET ABUSE
(AMMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR").
Nanoco Group PLC
( " Nanoco, the " Group", or the " Company")
Litigation Update - Pre-Trial Conference
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 to its litigation against Samsung for the willful
infringement of the Group's IP.
The Pre-Trial Conference began yesterday and is still ongoing.
It is a normal part of the judicial process and is being overseen
by His Honour, Judge Rodney Gilstrap, of the Eastern District of
Texas. The transcripts of the first day of proceedings show that
the Judge has ruled on a number of motions that had been submitted
by Nanoco and Samsung. The more significant rulings are shown
below:
Motion Result
Motion by Samsung to exclude The Judge rejected the Motion
the testimony of Dr Cossairt and Dr Cossairt will be free
- technology expert on behalf to testify at the Trial, scheduled
of Nanoco to commence on 12 September 2022.
------------------------------------
Motion by Samsung to exclude The Judge rejected the Motion
the testimony of Mr Credelle and Mr Credelle will be free
- damages expert on behalf of to testify at the Trial.
Nanoco
------------------------------------
Motion by Samsung to exclude The Judge rejected the Motion
the testimony of Mr Weinstein and Mr Weinstein will be free
- damages expert on behalf of to testify at the Trial.
Nanoco
------------------------------------
Motion by Samsung to exclude The Judge rejected the Motion
the testimony of Dr Allenby - and Dr Allenby will be free to
damages expert on behalf of Nanoco testify at the Trial.
------------------------------------
Motion by Samsung for summary The Judge dismissed the motion
judgement of non-infringement and hence the matter will proceed
of the quantum dot patents to trial.
------------------------------------
A number of other motions were ruled upon during the pre-trial
conference with no material surprises or disappointments for
Nanoco. The Judge agreed to issue a summary judgment order of
non-infringement with respect to red quantum dots. Nanoco did not
oppose this motion, as its trial strategy is focused on green dots
to limit the number of arguments to be presented to the jury in the
time constrained one week trial . This has no impact on the number
of allegedly infringing units as all displays (TVs and monitors)
contain green and red quantum dots, with the former outnumbering
the latter in a ratio of around four to one.
The rulings above are in addition to the previous public ruling
by the Judge that rejected Samsung's request to change the
definition of a molecular cluster compound previously ruled on in
the Markman Hearing. We expect the formal Orders of the court with
respect to these motions to be handed down shortly but do not
expect any material change in the decisions shown in the
transcripts.
Brian Tenner, Chief Executive Officer of Nanoco Group plc,
said:
"So we are going to trial. We are in a strong position: the net
result of rulings on the pre-trial conference motions preserve all
of Nanoco's damages models and their expert testimony, as well as
the full testimony of our technical expert Dr Brandi Cossairt. The
earlier rejection of Samsung's motion to re-open a Markman
definition was also an important finding in Nanoco's favour. Being
able to selectively choose the claims to bring to trial on the back
of the emphatic win at PTAB has also undoubtedly added to this
strength.
"We must not be complacent as the trial still awaits and its
outcome is uncertain. However, the recent events noted above have
added to the strength of our belief and confidence in our case. We
continue to focus and work industriously towards a favourable
outcome to the trial and 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 +44 (0) 161 603 7900
Turner Pope Investments (Joint Corporate Broker):
Andrew Thacker +44 (0) 20 3657 0050
James Pope
Peel Hunt LLP (Joint Corporate Broker):
Edward Knight +44 (0) 20 7418 8900
James Smith
MHP Communications : +44 (0) 203 128 8570
Reg Hoare
Pete Lambie
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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