LycoRed has now reached a settlement with Indian firm EID Parry after the carotenoids supplier filed for patent infringement in March last year over its tomato lycopene products and related manufacturing processes.
As part of the terms of the confidential settlement, Parry acknowledged the validity of LycoRed’s asserted patents, which it had previously challenged.
Morris Zelkha, chief executive of LycoRed, said: “[We] invest millions of dollars in researching the efficacy and safety of our proprietary ingredients and continue to differentiate ourselves from other companies in the market by using its proprietary processes to manufacture lycopene and unique compositions.
“We are strong defenders of our intellectual property, so that LycoRed’s customers can continue to purchase safe and clinically effective Lyc-O-Mato and our other proprietary products, with confidence.”
The company’s patented Lyc-O-Mato, which was at the heart of the suit, is the only natural tomato lycopene extract in the market with bioactivity, safety, toxicity and efficacy supported by clinical studies, LycoRed said.