MIPS receives a positive decision in European patent case
MIPS AB ("MIPS") has previously filed an opposition at the European Patent Office against European Patent 2,550,886 (the "Patent"), granted to Bauer Hockey Corp. ("Bauer"). The Patent relates to a sports helmet with rotational impact protection, based on a technology similar to MIPS' Brain Protection System (BPS) technology.
MIPS' opposition was successful and the European Patent Office has issued an oral decision that the Patent is revoked in its entirety. A written decision will be issued, which Bauer may appeal.
MIPS is in parallel involved in proceedings against Bauer in the federal court in Canada, where MIPS has sued Bauer for patent infringement. The Canadian proceedings have no direct connection to the proceedings at the European Patent Office, even though the invention covered by the revoked Patent corresponds to one of the Bauer patents involved in the Canadian proceedings. The outcome of the Canadian proceedings is yet to be announced.
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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.