Update on legal action against MGI Australia

In brief · summary, not quotable

Oxford Nanopore Technologies plc has announced a significant development in its Australian patent proceedings against MGI Australia Pty Ltd., where MGI has conceded that its "Cyclone SEQ WT02" product infringes four of Oxford Nanopore's patents, with liability for infringement not in dispute. A trial is scheduled for 2027 to adjudicate MGI's remaining defenses and consider potential damages. Concurrently, Oxford Nanopore has initiated proceedings in the UK High Court against multiple MGI/BGI entities for alleged trade secret infringement, breach of confidence, and breach of contract, underscoring the company's commitment to protecting its intellectual property.

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Oxford Nanopore Technologies plc (LSE: ONT), the company delivering a new generation of nanopore based molecular sensing, today noted that in the Australian patent proceedings against MGI Australia Pty Ltd. et al. ("MGI"), MGI has conceded that its "Cyclone SEQ WT02" infringes four of Oxford Nanopore's Australian patents.

Justice Jackman confirmed at a recent case management hearing that liability for infringement is not in dispute. A trial has been set for 2027 at which MGI's remaining defences will be adjudicated. Consideration of additional or enhanced damages will take place after the trial.

Separately, in the UK, Oxford Nanopore has issued proceedings in the High Court alleging trade secrets infringement, breach of confidence and breach of contract against multiple MGI/ BGI entities.

In both instances, Oxford Nanopore initiated legal proceedings to protect the intellectual property ("IP") that underpins its sensing platform, supported by patents granted in Australia and in many other jurisdictions. The Company continues to invest in innovation and is committed to safeguarding this IP as a core driver of long-term value creation for customers and partners worldwide.

Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.