In January, Biolase settled an ongoing lawsuit with CAO Group, which alleged the company of committing patent infringement.
CAO filed the lawsuit against Biolase in April 2012 and then again in January 2018 alleging Biolase's Ezlase dental laser and diode laser infringed on patents owned by CAO.
Per the settlement, CAO granted Biolase a non-exclusive, non-transferable and royalty-free license to the patents. CAO also agreed to not sue Biolase or its affiliates on the use of the technology.
Biolase also agreed to pay CAO $500,000 in cash and issue 500,000 restricted shares of stock to CAO. The settlement also included a payment from Biolase to be delivered within 30 days of Dec. 31, 2021. Biolase will pay between $1 million and the value of the stock consideration provided.
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CAO filed the lawsuit against Biolase in April 2012 and then again in January 2018 alleging Biolase's Ezlase dental laser and diode laser infringed on patents owned by CAO.
Per the settlement, CAO granted Biolase a non-exclusive, non-transferable and royalty-free license to the patents. CAO also agreed to not sue Biolase or its affiliates on the use of the technology.
Biolase also agreed to pay CAO $500,000 in cash and issue 500,000 restricted shares of stock to CAO. The settlement also included a payment from Biolase to be delivered within 30 days of Dec. 31, 2021. Biolase will pay between $1 million and the value of the stock consideration provided.
More articles on dentists:
California oral surgeon reprimanded after patient dies following dental surgery
California dentist pleads guilty to submitting $3.8M in false claims
Drs. Brian Moore, Thomas Bach & more: 4 dentists making headlines