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Nanoco Group PLC said on Tuesday that the US Patent Trial & Appeal Board ruled in favour of the company's patent claims against Samsung Electronics Co.
Shares in Nanoco surged 50% at 40.00 pence on Tuesday morning in Londo,n following the announcement. The company reached a high of 42.13p earlier in the day, up 58% against the closing price of 26.65p on Monday and setting a new 52-week high.
The Manchester-based quantum dots manufacturer had brought 47 claims against Samsung for the wilful infringement of its intellectual property under five patents.
All claims have now been ruled in favour of Nanoco. The company added it expects Samsung to appeal the decision with a potential revised trial in the final quarter of the year.
‘Nanoco has overcome the first of two major hurdles in the litigation, the validity of our IP. As a result, our confidence in this case has increased further. While there is still much to be done, successfully overcoming this hurdle allows a straight run in to a trial later in 2022. A favourable trial outcome should then deliver a substantial inflection point for Nanoco's prospects and shareholder value,’ said Chief Executive Brian Tenner.
Samsung shares closed up 2.0% at ₩67,600 in Seoul on Tuesday.
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