Decision further confirms that intellectual property and know-how
associated with ingredients known as whole algal flour and whole algal
protein are the sole property of Solazyme, Inc.
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--
Solazyme, Inc. (Nasdaq:SZYM), a pioneer in microalgae innovation and
producer of sustainable algae oils and specialty ingredients has
announced that on December 21, 2015, the United States District Court
for the District of Delaware handed down a major decision in the
proceedings between Solazyme, Inc., and Roquette Frères, S.A.
Specifically, the court confirmed in its entirety, and without
alteration, the Arbitration Panel Award of February 19, 2015. In
addition, the court denied Roquette's motion for an order to vacate the
Award, and denied Roquette's motions for summary judgment as to its
declaratory judgment actions.
In February, the Arbitration panel found that Roquette has attempted to
market products and patent intellectual property based on the
intellectual property and products that Solazyme contributed to the
parties' joint venture (Solazyme Roquette Nutritionals LLC),
specifically (i) a high lipid (whole) algal flour, and (ii) a high
protein (whole) algal powder. Further, prior to working with Solazyme,
Roquette did not possess any products that were in any way similar to
The United States District Court's confirmation of the Arbitration Award
Essentially all of the intellectual property from the Solazyme
Roquette Nutritionals joint venture, including all patent applications
and all "know-how" related to the products, is assigned solely to
Roquette is to assign to Solazyme all of Roquette's patent
applications filed on or after November 3, 2010 related to microalgae
foods, microalgae ingredients, microalgae nutritionals and all methods
related to making and using them, and
Roquette is to pay Solazyme $2.3 million dollars to cover all of
Solazyme's fees for the arbitration.
About Solazyme, Inc.
Solazyme, Inc. develops and sells innovative, sustainable,
high-performance oils and ingredients that are better for people and
better for the planet. Starting with microalgae, the world's original
source of oil, Solazyme creates renewable oils and ingredients that
serve as the foundation for healthier foods; high-performance industrial
products; unique home and personal care solutions; and more sustainable
fuels. Headquartered in South San Francisco, Solazyme's mission is to
solve some of the world's biggest problems with one of the world's
smallest and earliest life forms: microalgae. For additional
information, please visit Solazyme's website at www.solazyme.com.
Solazyme® and the Solazyme logo are trademarks of Solazyme, Inc.
Forward Looking Statements
This press release contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995.
When used in this press release, the words "will", "expects", "intends"
and other similar expressions and any other statements that are not
historical facts are intended to identify those assertions as
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Any such statement may be influenced by a
variety of factors, many of which are beyond the control of the
companies, that could cause actual outcomes and results to be materially
different from those projected, described, expressed or implied in this
press release due to a number of risks and uncertainties. Potential
risks and uncertainties include, among others: limited operating
history; limited history commercializing products; implementation risk
in deploying new technologies; limited experience in constructing,
ramping up and operating commercial manufacturing facilities; delays
related to start-up and ramp-up of production facilities; and
availability of consistent, reliable power and steam. Accordingly, no
assurances can be given that any of the events anticipated by the
forward-looking statements will transpire or occur, or if any of them do
so, what impact they will have on the results of operations or financial
In addition, please refer to the documents that Solazyme, Inc. files
with the Securities and Exchange Commission, including its Quarterly
Report on Form 10-Q, as updated from time to time, for a discussion of
these and other risks. You are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date of this
press release. Solazyme is not under any duty to update any of the
information in this press release.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151228005299/en/
Source: Solazyme, Inc.
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