Update on patent issue

24 September 2024

Update on patent issue

Blis Technologies Limited (BLIS) wishes to advise the market that it has become aware that a key customer has filed a patent for the BLIS K12™ and BLIS M18™ fermentation process in 3 key jurisdictions, being the USA, Europe and China.

Also named on the patent registration as inventors are two employees of a European manufacturer which ferments probiotics. BLIS previously worked with this manufacturer to ferment the BLIS strains and disclosed its trade secrets to them as part of this process under a Non-Disclosure Agreement (NDA).

The wording on the patent application contains wording and provisions which, in some instances, are identical or almost identical to information BLIS provided to the European manufacturer. BLIS is concerned by the release of its confidential information in the patent application and the potential impact that this may have on BLIS' ongoing operations.

The release of BLIS' trade secrets and confidential information, as part of the patent application, has considerable financial implications for the company. A reduction in revenue is expected in the short term due to less sales of BLIS' probiotic ingredients. It is expected that this key customer will terminate its arrangement with BLIS as a result of its patent application.

BLIS has sought legal advice in relation to this matter. BLIS will challenge the patent application and take action against the European manufacturer and the key customer for their alleged breaches. Additional costs will be incurred by BLIS as a result.
On this basis the guidance provided by BLIS on 22 August 2024 is withdrawn.

BLIS has cash reserves it can rely on whilst it works on alternative strategies to address these challenges.

Upon release of this announcement BLIS expects that NZ RegCo will remove the trading halt.

Ends

For further information, please contact:

Scott Johnson
CEO
+64 21 488 831


 
About Blis Technologies Ltd

Delivering proven health benefits through evidence-based, advanced probiotics
Blis Technologies is an NZX-listed manufacturer of advanced probiotic strains that go beyond the gut. Combining innovation with evidence-based research and the highest quality production controls enables the delivery of probiotic solutions for specific health targets including throat health, halitosis (bad breath), immune support, teeth and gum health and skin health. BLIS® products are sold throughout New Zealand and in Asia, Europe and the USA. More information about Blis Technologies Ltd can be found at www.blis.co.nz.

Website: www.blis.co.nz

Instagram: @blisprobiotics #blisk12 #blism18 #blisq24
Facebook: @BLISProbiotics

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Announcement PDF