Lipidor completes SEK 1.7 million sale of animal segment patent
STOCKHOLM, Sweden, 24th January 2024 – Lipidor AB (publ) (Nasdaq First North Growth Market: LIPI) today announces that one of the company's patents, previously out-licensed to Emollivet AB, has now been sold to the same party. The sale is aimed at strengthening Lipidor's short term cash position.
Since its inception in 2019, Emollivet has held a license for Lipidor’s IP relating to the animal segment and a royalty agreement has regulated Lipidor's percentage share of Emollivet's sales. From the time the royalty came into effect, namely the second half of 2023, the agreement has generated revenues of approximately SEK 75,000 for Lipidor.
On 21st December 2023, in connection with the announcement of the divestment of shares in Emollivet, Lipidor announced that it intends to work towards the possible use of IP linked to the animal segment as part of the company's bridge financing. As of today, this work has resulted in the sale of one of Lipidor's patents. It should be noted that the patent that has been sold is not one that is used in Lipidor’s psoriasis project.
The purchase price has been set on market terms and amounts to SEK 1.7 million, and furthermore means that the royalty agreement is terminated. Through the agreement, Emollivet still has a license to Lipidor's existing patent portfolio for the animal segment to avoid potential patent infringements and secure access to know-how in connection with AKVANO®.