New Zealand's BLIS Technologies rallies after patent settlement

BLIS Technologies

02/07/2025 04:23

** Shares of BLIS Technologies BLT.NZ rise as much as 46.7% to NZ$0.022, their biggest intraday pct gain since January 2013 and highest level since September 17

** Probiotics maker settles patent-related issue with private Swiss co Bluestone Pharma (BSP) and Austrian firm Lactosan

** BLT was contesting a patent application filed by BSP over its BLIS K12 and BLIS M18 fermentation processes

** Under the settlement, co will now jointly own the patent with BSP

** Also extends supply agreement with BSP to five years that was set to expire this month

** About 6 mln shares change hands, 23.7x the 30-day average of 250,832; busiest session since July 2021

** Stock up 46.7% YTD

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))