HOUSTON — GLS Capital, one of the world’s largest private investment firms focused on litigation finance, announced its financial partnership with Nanoco Technologies in its patent litigation against Samsung Electronics, a press release states.
According to a press release, shortly before the start of trial in a U.S. District Court case, the parties agreed to stay the proceedings to finalize a settlement agreement. Samsung has now agreed to pay $150 million to settle the litigation in a deal called “transformative” by Nanoco that includes a license agreement and the transfer of certain patents.
Nanoco is a manufacturer of cadmium-free nanoparticles known as quantum dots. Nanoco alleged that Samsung’s QLED televisions infringe several fundamental Nanoco patents related to the synthesis and use of quantum dots. The Nanoco v. Samsung dispute also included the successful defense of five Inter Partes Review petitions in the USPTO, in which all challenged patent claims were upheld. On Jan. 6, Nanoco announced that a term sheet for settlement of the litigation had been agreed to, the press release states.
Adam Gill, Managing Director at GLS Capital, stated: “We were proud to support Nanoco in obtaining the recognition and compensation they deserve for their fundamental inventions. Nanoco is a true pioneer in its field. Its foundational technology allows quantum dots to be made without the use of toxic heavy metals like cadmium, enabling displays like Samsung’s QLED televisions to be brighter, more brilliant and environmentally friendly.”
Nanoco CEO Brian Tenner said: “Litigation finance allowed us to pursue our claims on equal footing against a much larger adversary. We chose GLS Capital because of their reputation not only as intellectual property subject matter experts, but also as reliable and trustworthy partners. We are grateful for their assistance throughout the course of the litigation, which we believe added substantial value.”