Neptune Technologies & Bioressources-Ord (NASDAQ:NEPT) and Enzymotec Ltd (NASDAQ:ENZY) Conclude Final Patent Infringement Settlement

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Neptune Technologies & Bioressources-Ord (NASDAQ:NEPT) and Acasti Pharma Inc (NASDAQ:ACST), a Neptune subsidiary, Sunday night announced that a final and binding patent infringement settlement and license agreement has been signed with Enzymotec Ltd. and Enzymotec Ltd(NASDAQ:ENZY) that resolves the International Trade Commission’s investigation of infringement of Neptune’s composition of matter patents, related federal court actions initiated by Neptune against Enzymotec and its distributors, and various patent review proceedings requested by Enzymotec. 

As part of the settlement, Neptune – which is trading near a 52 week low of $2.20 – granted a world-wide, non-exclusive, royalty-bearing license to Enzymotec, allowing it to market and sell its nutraceutical products under Neptune’s ‘348 family of patents. Under the terms of the settlement, royalty levels in the USA are dependent on the outcome of pending inter partes review proceedings before the U.S. Patent and Trademark Office regarding certain claims of Neptune’s ‘351 composition of matter patent. 

Furthermore, royalty levels in Australia are dependent on a potential request by Enzymotec to the Australian Patent Office for a post-grant review of certain claims of Neptune’s allowed composition of matter patent application. 

Enzymotec also agreed to pay Neptune a non-refundable one-time upfront settlement payment. The financial terms of the license are confidential between the parties.

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