Bioventix signs deal to end dispute with Diasource

21st Aug 2014 09:44

Bioventix, an AIM-listed company focused on the development of anti-bodies, has signed an agreement to license intellectual property owned by Belgian company Diasource ImmunoAssays.The two groups had been in dispute over one of Diasource's European patents, but said a licence agreement was "the preferred outcome".In April of this year, Bioventix said it was taking action to oppose the patent, which is in the field of anti-vitamin D antibodies and their use in tests for vitamin D sufficiency and deficiency. Bioventix explained the patent is within the scope of the newly granted licence, meaning its business will no longer be potentially restricted. The company assured investors that the licence features reasonable commercial terms and as such said it will withdraw the opposition to the European patent."We considered the costs of a potential dispute together with the impact of on-going uncertainty on customers and shareholders and concluded that a licence agreement with Diasource was the preferred outcome," Bioventix chief executive Peter Harrison said. NR