From Earlier: Neptune, Aker BioMarine Reach Patent Infringement Settlement and License Agreement
Neptune Technologies & Bioressources (NASDAQ: NEPT) Acasti Pharma (NASDAQ: ACST), a Neptune subsidiary, and Aker BioMarine AS, Aker BioMarine Antarctic AS and Aker BioMarine Antarctic USA (collectively "AKBM") jointly announce a settlement and license agreement that will result in the dismissal of all AKBM respondents from the on-going ITC investigation brought by Neptune and Acasti, as well as the dismissal of all current lawsuits brought by Neptune against AKBM and companies in its value chain.
As part of the settlement, Neptune granted a world-wide, non-exclusive, royalty-bearing license to AKBM, allowing AKBM to market and sell its nutraceutical products in the licensed countries. Under the terms of the settlement, royalty levels are dependent on the outcome of the pending inter partes review proceedings before the U.S. Patent and Trademark Office (USPTO) regarding Neptune's '351 composition of matter patent (No. 8,278,351). AKBM also agreed to pay Neptune an additional non-refundable one-time payment for the manufacture and sale of krill products prior to the effective USPTO decision date. The financial terms of the license are confidential between the parties.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.