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Wednesday, Oct 2
Neptune, Acasti settle patent infringement case
- Neptune Technologies & Bioressources (NEPT +13.2%) and Acasti Pharma (ACST +1.7%) have settled with Rimfrost, Olympic Seafood AS, Olympic Biotec Ltd, Avoca, and Bioriginal Food & Science Corp, regarding the alleged infringement of NEPT's intellectual property.
- Although the "exact" terms of the settlement are confidential, NEPT has granted Rimfrost and the other respondents a world-wide, non-exclusive royalty-bearing license to sell "products containing components extracted from krill."
- NEPT will also get an "additional royalty amount due for the manufacture and sale of krill products prior to the effective license commencement date." (PR)
- Separately, NEPT inks a "strategic non-exclusive krill oil manufacturing and supply agreement" with Rimfros, which will allow NEPT to purchase krill oil at a "preferred price." (PR)
- The deal will keep NEPT stocked while the company finishes construction of its new Sherbrooke production facility (the old one was destroyed a little less than a year ago).