Blis Technologies has settled patent issues with the company’s largest customer in Europe and a party associated with that customer.
In May, when the probiotics company announced its full-year results, it said unexpected patent issues had taken up considerable time.
The breach of contract by Bluestone Pharma GmbH (BSP) and Lactosan was advised to the NZX in October last year.
Yesterday, in a market update, Blis said the negotiations had ended, with BSP and Blis agreeing the patent applications would be jointly owned.
“This is a positive step forward for both Blis, BSP and Lactosan, and provides certainty of access for Blis and its licensees to this market-leading technology … As part of this arrangement, Blis, BSP and Lactosan have released each other of all claims and causes of action arising from the publication of the patent applications,” the statement said.
Blis and BSP had also renegotiated a five-year extension to their supply agreement. — APL
