LONDON (Alliance News) - Bioventix PLC said Thursday that it has signed a licence agreement with Belgian company DIAsource ImmunoAssays SA over certain intellectual property owned by DIAsource.
In April this year Bioventix said that it was taking action to oppose DIAsource's European patent in the field of anti-vitamin D antibodies and their use in tests for vitamin D sufficiency and deficiency.
"This patent is within the scope of the license which DIAsource has granted to the company and hence it will cease potentially to restrict Bioventix's business. The license features reasonable commercial terms and Bioventix will withdraw the opposition to the European patent," said Bioventix in a statement.
"We considered the costs of a potential dispute together with the impact of on-going uncertainty on customers and shareholders and concluded that a license agreement with DIAsource was the preferred outcome. With the license agreement now signed, Bioventix's business is no longer potentially restricted by DIAsource's European patent," said Peter Harrison, CEO of Bioventix.
Bioventix shares were Thursday quoted at 590.00 pence per share, untraded.
By Alice Attwood; aliceattwood@alliancenews.com; @AliceAtAlliance
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