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.