In February Nanoco announced that it had filed a patent infringement lawsuit against Samsung. The lawsuit alleges that Samsung has wilfully infringed the patents relating to Nanoco’s unique synthesis and resin capabilities for quantum dots. Nanoco is seeking a permanent injunction from further acts of infringement and unspecified but significant monetary damages. Nanoco has now secured litigation finance for the lawsuit from a very large US litigation finance specialist, removing the need for Nanoco and its shareholders to fund the process. Our estimates remain under review.
Nanoco has signed a litigation funding agreement with a very large, undisclosed US litigation finance specialist with extensive experience in financing technology-based IP patent litigation matters. The finance specialist will fund the costs of the litigation against Samsung, which is likely to take two years or more to complete and cost many millions of dollars to prosecute.
Nanoco Group PLC (LON:NANO) leads the world in the research, development and large-scale manufacture of heavy metal-free nanomaterials
