Blis Technologies has announced that it plans to challenge a patent application filed by a key customer for the BLIS K12 and BLIS M18 fermentation process in the United States, Europe, and China.
The company said it is concerned about the release of its confidential information in the patent application and the potential impact on its operations.
Blis said it expects a reduction in revenue in the short term and anticipates that the key customer will terminate its arrangement with the company.
The company said it has sought legal advice and will take action against the European manufacturer and the key customer for their alleged breaches.
Blis said it has cash reserves to rely on while it works on alternative strategies.
The company also expects the trading halt to be lifted.
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