Shares in Perth-based QPSX have surged over 144 per cent on news that it has received a US patent, expected to help it with a German court action in defence of its intellectual property.
Shares in Perth-based QPSX have surged over 144 per cent on news that it has received a US patent, expected to help it with a German court action in defence of its intellectual property.
QPSX shares closed 5.7 cents higher at 10.5 cents today.
See the full stock exchange announcement below.
QPSX Ltd (ASX:QPX) has received formal Notice of Allowance for a US Patent covering its Segmentation and Reassembly (`SAR') technology ¬ intellectual property utilised in core telecoms switching infrastructure. Most importantly, the patent has been allowed following the consideration by the US Patent Office of all prior art documents cited in QPSX's German SAR litigation by Deutsche Telekom. In that litigation, the German Patent Court ruled that QPSX's patent was invalid in light of the cited prior art.
"The notice of allowance is an endorsement of our position that the prior art cited in the German Patent Court case was not relevant to the question of validity" Graham Griffiths, QPSX Chief Executive Officer said, "it is very timely as the German Supreme Court is now actively considering QPSX's appeal in the matter".
QPSX appealed to the German Federal Supreme Court against the lower Patent Court's June 30 2004 validity decision in respect of QPSX's SAR German patent.
Recently, the Supreme Court appointed an independent Swiss technical expert to advise the Court in respect of the appeal. We are advised by German counsel that, historically, some 50% of lower Patent Court decisions that do not settle prior to appeal, are overturned on appeal.
QPSX were informed of the Notice of Allowance by the US Patent and Trademark Office and the issue of the formal patent certificate is expected within eight to ten weeks.
"This represents a major addition to the QPSX patent portfolio since the US is home to many world leaders in the manufacture and sale of ATM equipment. The US market is five times larger than the European market which QPSX is currently pursuing for significant licensing royalties, and the way is now open for QPSX to expand licensing activities in the US," Mr Griffiths added.
QPSX
QPSX's focus is the profitable commercialisation of a range of physical and life science technologies on a global basis. QPSX identifies valuable intellectual property from research institutions and companies across Asia Pacific, and realises value through the execution of international IP licensing programs and the formation of spin-out companies.
