A final settlement agreement has been signed between Biosensor and its partially owned German subsidiary with the parties involved.
The agreement puts an end to all prior legal disputes and includes entering into a license agreement that gives both parties the right to use the technology developed by the German partially owned subsidiary. No compensation will be paid, except for equal sharing of any relevant patent application and/or patent fees.
– It is highly gratifying that we now have an agreement in place and that we thereby will have access to this technology, says Erik Lissner, President of Biosensor Applications Sweden AB.
– The legal process has been protracted and has drained a lot of energy. Now we can focus all of our resources on sales and marketing.
For additional information, please contact:
President, Biosensor Applications Sweden AB (publ)
Telephone: + 46 8 706 75 00
Biosensor is a Swedish company listed on AktieTorget. The head office is located in Solna, a suburb of Stockholm. The Company has developed a method for detection of narcotics and explosives. This technology is based on super-sensitive biotechnological sensors that are able to detect and analyse these substances simultaneously, even at a molecular level. The technology is accurate, with low false alarm rates, even outside laboratory environments. Biosensor’s customers are found among police forces, security companies, border control, the armed forces, the criminal justice system and rehabilitation clinics on a world-wide basis.