The Stockholm Patent and Market court confirmed in its verdict dated October 27, 2016 C-RAD’s right to the invention named “Patient Monitoring Radiation Machines”. The opposing party appealed the verdict.
The case is pending with the Patent and Market Court of Appeal which first will decide if leave to appeal is granted. C-RAD will update the market as soon as new and relevant information become apparent.
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 AB, 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.
C-RAD had legal and associated costs of 894 kSEK related to the matter. As the Patent and Market court ruled in C-RAD’s favor Beamocular shall reimburse C-RAD’s legal fees. C-RAD has requested Beamocular to immediately pay or deposit the fees in escrow with the Swedish enforcement authority.
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 01:30 pm CET on November 21, 2016.
