UK Company Exosect Ltd. today announced that it has reached an end to its legal dispute in Canada and the U.S.A. A settlement agreement has now been reached with Bayer. Terms of the agreement were not disclosed.
This concludes a court action brought by Exosect in April 2015 relating to its patent (CA2861526), filed in Canada on April, 4th 2012 and granted on February 3rd, 2015.
The patent for ‘improved seed flowability and methods of sowing seeds for dust drift reduction’ is included within Exosect’s rapidly expanding international portfolio, based on its proprietary technology platform, Entostat®.
Following this agreement, Bayer will continue to sell its fluency product, whilst Exosect will progress with its program of IP out-licencing. Exosect licensee Talc U.S.A. and its product Effusion remain unaffected by the resolution of this action. As previously reported, Exosect and Talc U.S.A. entered into a non-exclusive licensing deal on March 14th, 2016.
In addition to Exosect’s Canadian and US fluency agent patent, others coming to grant include South Africa and Ukraine. Applications are pending in Brazil and EU.
Exosect’s Chief Executive Officer Andrew MacNaughton comments;
“I am pleased that we have reached a mutually agreeable position in this dispute with Bayer. It is important that successful endeavours to produce novel formulations in crop protection, that benefit both mankind and the environment, are made available to farmers with the greatest expediency.”
Further information about Exosect’s award winning Entostat formulation technology can be found on the company website. www.exosect.com
Full news story visit: https://www.exosect.com/news/news-detail.aspx?id=117