Solarvest to acquire four bioactive patents
August 7, 2014, Montague, P.E.I. – Solarvest Bioenergy Inc. announced that it has entered an agreement to purchase worldwide rights to certain patents and patent applications from Kohilo Bio Inc.
August 7, 2014 By Canadian Biomass
August 7, 2014, Montague, P.E.I. – Solarvest Bioenergy Inc.
announced that it has entered an agreement to purchase worldwide rights to
certain patents and patent applications from Kohilo Bio Inc.
This acquisition will strengthen and diversify Solarvest's
existing patent portfolio and will enable it to operate unimpeded in several
global markets. In particular, this acquisition will give Solarvest complete
worldwide rights to the Algae Technology Patent that it previously licensed as
a part of its Qualifying Transaction in 2008. This Algae Technology Patent
particularly adds strength to Solarvest's position as it relates to the
creation of products by manipulating cell processes in the Algae. This will
further strengthen Solarvest's focus on using its unique Algae strains as a
'manufacturing platform' to produce a diverse range of products from vaccines
and bioactive proteins to enzymes.
"The acquisition of Kohilo's patent portfolio is a
significant addition to our existing technology and broadens our
commercialization opportunities," said Gerri Greenham, CEO of Solarvest.
The use of Algae as a Technology platform provides Solarvest
with a great advantage over traditional plant based production systems. Algae
can be grown in controlled environments, which take advantage of their rapid
growth rate, reducing the production cycle to a mere three or four days – up to
40 times faster than that of traditional crop systems.
Incidentally to this transaction, Garth Greenham will be
appointed as Chief Operating Officer of Solarvest.
Completion of the acquisition will be subject to a number of
conditions, including the approval of the TSX Venture Exchange. The common
shares issuable pursuant to the purchase agreement will be subject to resale
restrictions for a period of four months from the closing date under applicable
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