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Novogen Receives Royalty Payment, Settles Lawsuit
February 28, 2005
1 Min Read
Novogen Receives Royalty Payment, Settles Lawsuit
STAMFORD, Conn.--Novogen Ltd. received a milestone royalty payment of $863,000 under a license agreement with Solae LLC, covering use of patent applications for Novogen soy isoflavone technology. The Solae license relates to Novogen patents or patent applications relating to soy applications.
In additional news, Novogen announced it settled, for an undisclosed amount and terms, the legal action it had taken against General Nutrition Corp. (GNC), alleging patent infringement by GNC on a Novogen patent related to red clover isoflavones for treatment of menopausal symptoms. In addition to the monetary settlement, GNC will reintroduce Novogen's Promensil red clover product through its retail outlets in the United States.
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