Stockholm Patent and Market court resolution of dispute over C-RAD’s right to patent
The Stockholm Patent and Market court confirmed in its verdict C-RAD’s right to the invention named ”Patient Monitoring Radiation Machines”. The company Beamocular filed a suit in November 2014 and claimed the title to a patent family.
The background to the dispute relates to the ownership of a patent family (one patent application and one patent) which originates from an invention named ”Patient Monitoring Radiation Machines”, whose inventor Kristofer Maad, via the company Beamocular, to which he transferred his right, claims that the invention is not owned or has been transferred to C-RAD Positioning. Kristofer Maad was previously employed at C-RAD but resigned from the company in September 2014.
Beamocular has the possibility to take the case to the Court of Appeal.
C-RAD had legal and associated costs of 894 kSEK related to the law suit, whereas approximately 500 kSEK had been booked in previous quarters. As the court saw the claims from Beamocular unfounded, C-RAD shall be reimbursed by Beamocular in full.
About C-RAD
C-RAD develops innovative solutions for use in advanced radiation therapy. The C-RAD group offers products and solutions for patient positioning, tumor localization and radiation treatment systems. All product development is conducted in three fully owned subsidiaries: C-RAD Positioning AB, C-RAD Imaging AB and C-RAD Innovation AB, all of which are located in Uppsala, Sweden. Employees currently number 45. C-RAD has established three companies for direct sales: C-RAD Inc. in the US, C-RAD GmbH in Germany and C-RAD WOFE in China. Cyrpa International SPRL, a Franco-Belgian laser company, is a wholly owned subsidiary whose operations are integrated. C-RAD AB is listed on NASDAQ Stockholm.
For more information on C-RAD, please visit www.c-rad.com
For further information:
Tim Thurn, CEO C-RAD AB, Phone +46-18-666930, Email investors@c-rad.com
This information is information that C-RAD AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication at 12:00 CET on October 27, 2016.