From Renovacare S-3:
Lawsuits against us by third-parties that allege we infringe their intellectual property rights could harm our potential business and operating results.
There is considerable patent and other intellectual property activity in the industry in which we operate. We may be unaware of intellectual property rights of others that may cover some or all of our technology. Additionally, notwithstanding our receipt of a patent, a third-party may nevertheless challenge the validity of one or more claims included in the patent, which may require us to expend significant funds to defend our claims. For example, on April 4, 2017, the U.S. Patent & Trademark Office (the “ PTO ”) issued to us U.S. Patent No. 9,610, 430 related to our device and method for spraying autologous skin cells. On or about April 11, 2017, we received from Avita Medical Limited (“ Avita ”) a paper copy of what was labeled a Petition for Inter Partes Review purporting to challenge the validity of the claims in U.S. Patent No. 9,610,430 (the “ Petition ”) before the Patent Trial and Appeal Board (“PTAB ”), which is an administrative proceeding of the PTO (the “ Proceeding ”). We do not agree with the assertions set forth in the Petition and we intend to defend our intellectual property. In the event the Proceeding progresses, the PTAB may find (i) that the Petition is insufficient to establish that any such claims are unpatentable and accordingly confirm all of the claims in our U.S. Patent No. 9,610,430 or (ii) one or more claims of U.S. Patent No. 9,610,430 to be unpatentable and cancel any such claims and confirm the balance of such claims.
