MIPS AB receives positive judgment in patent dispute with Bauer with respect to brain protection system
MIPS AB ("MIPS") has received a positive judgment in a key patent dispute with Bauer Hockey Ltd and Bauer Hockey LLC ("Bauer") with regard to MIPS' patented helmet technology against rotational motion at oblique impact. The Federal Court of Canada has released a judgment confirming the validity of MIPS' patent rights and its Brain Protection System.
The judgment by the Federal Court of Canada upholds MIPS' Canadian Patent 2,798,542 and thus confirms the novelty and inventiveness of the patented MIPS Brain Protection System technology. The same technology is subject to other MIPS patents world-wide and has been implemented in helmets by leading helmet brands throughout the world for use in a wide range of sports. In the proceedings, Bauer claimed that MIPS was not entitled to patent protection in Canada for the relevant technology due to lack of novelty and inventive step. The Federal Court, however, did not rule in favor of Bauer and instead upheld MIPS' Canadian patent.
Furthermore, the Court declared certain patent rights of Bauer as being invalid since they were considered as obvious variants of the previously developed MIPS technology. The Canadian Court's ruling also narrowed the scope of Bauer's own patent rights. The Court concluded that certain aspects of Bauer's patent claims were too similar to previously disclosed MIPS technology to have full validity under Canadian law. Moreover, the "Suspend- tech" technology used in the Bauer Re-Akt helmet was found not to infringe MIPS' patent due to the difference in functionality between the two technologies. "I am very satisfied that this dispute has finally been successfully resolved and this judgment follows only weeks after the decision by the European Patent Office to revoke a European Patent for the same technology previously granted to Bauer", says Johan Thiel, CEO MIPS. "I am especially pleased on behalf of the dedicated team of scientists and product developers at MIPS who have been closely involved in the innovations that created the proven solutions for reduction of rotational motion in oblique impact in helmets, and lead the grant of the patent in question."
The decision will be issued in its full extent, and Bauer will have the possibility to appeal.
This information constituted before the publication inside information and is such that MIPS AB is required to disclose pursuant to the EU Market Abuse Regulation. The information was submitted, by the below contact persons, for publication on 8 May at 4:30 pm CET.
FORE MORE INFORMATION, PLEASE CONTACT:
JOHAN THIEL, PRESIDENT AND CEO
tel +46 73 399 65 88
MAX STRANDWITZ, CFO
tel +46 70 961 17 54
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, marketing and administration is in Stockholm, where its product and technology test facility also is located. Production and manufacturing operations take place at sub-contractor facilities.
The MIPS share has been listed on Nasdaq Stockholm since March 2017. For more information, see www.mipscorp.com.