New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
December 4, 2012
09:33 EDTNEPTNeptune Technologies announces royalty prepayment agreement with Acasti Pharma
Neptune Technologies & Bioressources announces it has entered into a prepayment agreement with Acasti Pharma , a majority-owned subsidiary of Neptune, pursuant to which Acasti has exercised the option embedded in its exclusive technology license agreement dated August 7, 2008 entered into between Acasti and Neptune to pay in advance all of the future royalties payable under the License Agreement. The Prepayment will have the effect of increasing Neptune's equity participation in Acasti (from approximately 57% to approximately 61% if shares were issued on this date), given that Neptune, subject to required approvals, will be issued 6.75M Class "A" shares in the share capital of Acasti, issuable at a price of $2.30 per Share, upon the exercise of a warrant delivered to Neptune at the signature of the Prepayment Agreement. This reflects a Prepayment value, confirmed by an independent valuation expert using the pre-established Prepayment formula set forth in the License Agreement, that amounts to approximately $15.5M.
News For NEPT From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
March 23, 2015
19:10 EDTNEPTNeptune, Acasti announce USPTO decision that triggers royalty payments
Neptune Technologies & Bioressources (NEPT) and Acasti Pharma (ACST) announced that the Patent Trial and Appeal Board of the U.S. Patent and Trademark Office, or USPTO, issued a favorable decision, confirming the validity of certain claims in Neptune's '351 patent and triggering royalty payments to Neptune. "This is a significant milestone that triggers the payment of ongoing royalties to Neptune by Aker and Enzymotec, based on their sales of licensed krill oil products in the US," said Neptuine CEO Jim Hamilton.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use