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Nanoco Technologies Ltd. today announced it has agreed to settlement terms of a patent infringement lawsuit brought by Nanosys, Inc.
The lawsuit claimed that Nanoco's Cadmium based core shell (CdSe/ZnS) quantum dot technology, which is being distributed in the United States, infringes upon certain patents held by Nanosys. In the settlement, Nanoco did not admit that the asserted patents are either infringed or valid. Nanoco agreed to terminate its U.S. business for Cadmium Selenide core-shell quantum dots sold directly by it and through its U.S. distributor, Sigma-Aldrich. No other business activities of Nanoco were affected. Additional terms of the settlement were not disclosed.
"Nanoco is pleased with the outcome of the litigation. These products represent a tiny part of our business and we felt the small amount of product revenue affected by the litigation did not justify the expenditure of resources necessary to defend against a patent attack," said Michael Edelman, Chief Executive Officer of Nanoco. "Nanoco will continue to develop and deliver leading quantum dot products throughout the world with a specific focus on its heavy metal free technology."
Nanoco Technologies Ltd., the subsidiary of London Stock Exchange, AIM traded Nanoco Group PLC, is a leader in the global quantum dot market. Nanoco develops, manufactures and supplies the quality and quantity of quantum dots its customers require, at a price which enables quantum dot applications to come to market successfully throughout the world. Nanoco is focused on the development and mass production of its Heavy Metal Free quantum dot technology.
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Nanoco Group plc
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