U.K. Company Exosect Ltd. announced that it has reached an end to its legal dispute in Canada and the U.S. with Bayer. A settlement agreement has now been reached. 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, 4 2012 and granted on February 3, 2015.
The patent for ‘improved seed flowability and methods of sowing seeds for dust drift reduction‘ is included within Exosect’s 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-licensing. 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 14, 2016.
In addition to Exosect’s Canadian and U.S. fluency agent patent, others coming to grant include South Africa and Ukraine. Applications are pending in Brazil and EU.
Exosect’s CEO Andrew MacNaughton comments:
“I am pleased that we have reached a mutually agreeable position in this dispute with Bayer. It is important that successful endeavors to produce novel formulations in crop protection, that benefit both mankind and the environment, are made available to farmers with the greatest expediency.”
