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Patent and Market appeal court resolution of claims made by former employee

MAR

The Patent and Market appeal court has finally ruled on a former employee's claim for compensation, saying that the former employee is entitled to 1/5 of what he initially demanded.

The background is a lawsuit that was filed against C-RAD on May 9th 2020 by a former employee claiming compensation in the amount of SEK 85,6 million for an invention made during his employment at C-RAD in 2009. C-RAD strongly rejected the claim for compensation on the basis that the claim was highly excessive in light of the circumstances and that the employee was already compensated by his salary and other benefits. In July 2021 the Patent and Market ruled that no additional compensation should be given, The Patent and Market Court of Appeal now has partly changed the lower court's ruling, but only awarded the former employee SEK 4 385 000 for past time and a 1% royalty on net sales going forward on products using the invention described in the patent applications US12/632526 or PCT/SE2010/051338. The previous employee initially requested a royalty of 5%.

The former employee is ordered to pay C-RAD's legal costs in both the first and second instance, totaling SEK 1 264 000.

The Patent and Market Court of Appeal has granted permission to appeal the decision to the Supreme Court. C-RAD is considering an appeal to the Supreme Court.

This is the fourth in a series of court cases where the counterpart was either the same former employee or the company Beamocular AB (owned by the former employee and now in bankruptcy). In all prior cases C-RAD has been successful.

For further information:

Cecilia de Leeuw, CEO, +46 (0)18 751 33 22, investors@c-rad.com
Christoffer Herou, CFO, +46 (0)725 82 86 16, investors@c-rad.com

About C-RAD

C-RAD develops surface-guided imaging solutions for radiation therapy to allow highly accurate dose delivery to the tumor, and at the same time, to protect healthy tissue from unwanted exposure. Using high-speed 3D cameras combined with augmented reality, C-RAD supports the initial patient setup process and monitors the patient's motion during treatment to ensure high confidence, an efficient workflow, and improved accuracy. C-RAD monitors the patient's motion without the use of tattoos or additional imaging dose, to deliver the highest level of patient safety and comfort.

C-RAD. Inspiring excellence in cancer treatment.

C-RAD AB is listed on NASDAQ Stockholm.

For more information on C-RAD, please visit http://www.c-rad.com

This information is information that C-Rad is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-06-30 12:28 CEST.

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Patent and Market appeal court resolution of claims made by former employee

Datum 2023-06-30, kl 12:28
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Patent and Market appeal court resolution of claims made by former employee
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