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April 27, 2014
20:58 EDTNEPT, ACSTNeptune, Enzymotec conclude patent infringement settlement, license agreement
Neptune Technologies & Bioressources (NEPT) and Acasti Pharma (ACST), a Neptune subsidiary, announce that a final and binding patent infringement settlement and license agreement has been signed with Enzymotec and Enzymotec USA, that resolves the International Trade Commission's, ITC, 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 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, USPTO, 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.
News For NEPT;ACST From The Last 14 Days
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May 27, 2015
17:39 EDTNEPTNeptune Technologies sees Q1 revenue approximately $2M, one estimate $6.8M
In line with Neptune's decision to slow production down to address product handling characteristics, consolidated sales for the first quarter ending May 31 are expected to come in at approximately $2M, while the gross margin will remain under pressure. "However, with the positive momentum we are seeing at the plant and a robust sales pipeline we expect sales for the second quarter ending August 31, 2015 to be materially higher," highlighted CEO Jim Hamilton. "Our overriding objectives are to ensure customers receive a premium product and to optimize plant output in a cost effective manner, while building out demand as we increase production."
17:37 EDTNEPTNeptune Technologies reports Q4 net loss ($10.679M) vs. ($1.327M) a year ago
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