BRIEF-Neptune and Aker BioMarine reach patent agreement

Mon Oct 3, 2016 9:25am EDT
 
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Oct 3 (Reuters) - Neptune Technologies & Bioressources Inc :

* Neptune and Aker Biomarine reach important patent agreement, recognizing the patents' strength and ending all litigation

* Acquires rights to use aker's select krill oil-related patent portfolio in consideration of payment of $4 million

* Royalty payment of $4 million to Aker is payable over same 15-month period

* Agreement ends all outstanding litigation, with continued access for Aker to Neptune's composition patents

* Continued access for Aker to Neptune's composition patents in consideration of a royalty payment of us$10 million Source text for Eikon: Further company coverage: