MIPS GRANTED PRELIMINARY INJUNCTION AGAINST POC IN GERMANY
Stockholm, Sweden; November 21, 2017
MIPS has investigated the POC “SPIN” technology for potential infringement on patented MIPS technology. MIPS is now taking action to legally defend its proprietary knowledge and intellectual property.
MIPS has been granted an ex parte preliminary injunction in Germany to restrain infringement of MIPS’ patent EP (DE) 2 440 082 by POC Sweden AB through its sales in Germany of products incorporating the Shearing Pad INside, or “SPIN”, claiming to be a rotational impact protection system.
The order was granted by the court ex parte. This means that there was no hearing, POC was not given the opportunity to make submissions and there was no detailed argumentation relating to infringement and validity. MIPS is in the process of executing the order against POC. POC is permitted to appeal against the order.
POC is currently a customer to MIPS but represents a minor portion (less than 1% of net sales) of MIPS’ total sales.
This information is of such nature that MIPS AB (publ) is obliged to disclose in accordance with the EU’s Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, on 15th November 2017 at 12.15 a.m. CET.
For additional information
MIPS is a world-leader in helmet-based safety and the protection of the human brain. Based on an ingredient brand business-model, MIPS Brain Protection System (BPS) is sold to the global helmet industry. The BPS solution, which is patented in all relevant markets, is based on 20 years of research and development together with the Royal Institute of Technology and the Karolinska Institute, both located in Stockholm, Sweden.
MIPS headquarter with 25 employees engaged in research and development, sales and administration is in Stockholm, where its product and technology test facility is also located. Production and manufacturing operations take place at sub-contractor facilities. On a rolling 12-month basis, Oct 2016/ Sep 2017, MIPS net sales amounted to MSEK 116.5 resulting in an adjusted EBIT-margin of 23.1%. Since its March 2017 IPO, MIPS is traded on the Nasdaq Stockholm stock exchange. For information, visit www.mipsprotection.com.