Sonendo executes $14M plus APA to acquire Biolase assets

Sonendo announced that the company has entered into an Asset Purchase Agreement or APA with Biolase and certain of its subsidiaries or Sellers pursuant to which the company agreed to acquire substantially all of the assets of the Sellers and their subsidiaries for a total purchase price of $14M plus the assumption of certain operating liabilities and the settlement value of certain ongoing patent litigation between Sonendo’s subsidiary PIPStek and certain of the Sellers…In January 2023, the Company’s wholly-owned subsidiary, PIPStek LLC, filed a patent infringement lawsuit against Biolase in the U.S. District Court for the District of Delaware asserting infringement by Biolase of certain of PIPStek’s patents covering the use of laser systems and radial firing tips.” On October 1 in connection with the Sellers’ Chapter 11 case, the Company filed a proof of claim with the Bankruptcy Court for a total of not less than $59,000,000 of current and ongoing damages associated with patent infringement by Biolase. “Sonendo has made significant investments in its proprietary technology and intellectual property position and we will continue to vigorously enforce our rights against any parties who might infringe them,” Mr. Bergheim continued. .