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12.1.2022 08:59:59 CET | Aqua Bio Technology ASA | Inside information
Restorsea LLC has informed Aqua Bio Technology ("ABT") that they have decided to renew the prevailing Supply, License, and Exclusivity Agreement dated July 3, 2014 between ABT, Restorsea, LLC and Restorsea Holdings, for five additional years. Restorsea has elected not pay the USD 2.5 million renewal fee necessary to extend the exclusivity rights under the agreement. The next renewal date for five year additional supply under the agreement will be March 19, 2027. ABT will look into the prospects of also commercializing products coming from the hatching fluid technology on its own following the expiry of the exclusivity period in March 2022.
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For further information, please contact Håvard Lindstrøm, CEO, telephone +47 941 32 288.
This information is subject to the disclosure requirements in Regulation EU 596/2014 article 19 number 3 and the Norwegian Securities Trading Act § 5-12.
Aqua Bio Technology (ABT) is developing and commercializing sustainable biotechnology for use in skin care products. ABT's cosmetics ingredients are effective and they provide the cosmetics industry with natural alternatives to traditional ingredients. ABT is also marketing and distributing natural skin care products developed by partners towards consumers and professional users. ABT's focus on commercialization and development of natural ingredients and natural skin care products has been, and will continue to be, an important part of the company's strategy going forward. Aqua Bio Technology is listed on Euronext Expand.
Disclosure regulation
This information is subject of the disclosure requirements pursuant to section of 5-12 of the Norwegian Securities Trading Act.
Contacts
- Håvard Lindstrøm, 004794132288, hl@aquabiotech.no
About Aqua Bio Technology ASA
Aqua Bio Technology (ABT) is developing and commercializing sustainable
biotechnology for use in skin care products. ABT's cosmetics ingredients are
highly effective and they provide the cosmetics industry with natural
alternatives to traditional ingredients. ABT is also marketing and distributing
natural skin care products developed by partners towards consumers and
professional users. Aqua Bio Technology is listed on Euronext Expand.