Spherix Announces Settlement Agreement and Continued Monetization of Patent
TYSONS CORNER, Va., Nov. 19, 2013
TYSONS CORNER, Va., Nov. 19, 2013 /PRNewswire/ --Spherix
Incorporated(SPEX)--an intellectual property development company committed
to the fostering and monetization of intellectual property, announced today
that its wholly owned subsidiary, CompuFill LLC, has entered into a settlement
and license agreement with a leading technology company.
(Logo: http://photos.prnewswire.com/prnh/20131104/PH08853LOGO )
This is the first settlement and license agreement for the CompuFill portfolio
since Spherix acquired North South Holdings Inc. in September of 2013. Ongoing
infringement enforcement continues as Spherix's model of patent monetization
grows in both scope and size.
The CompuFill patents, each in the "on-line pharmacy automated refill system"
sector, trace priority back to October 1997.
Commenting on the announcement, Anthony Hayes, Spherix CEO, stated, "The value
of having this suite of patents cannot be emphasized enough. Our team of
patent monetization experts brought this opportunity to Spherix only a few
short months ago and we have already started generating revenue. This is a
great example of how Spherix continues working to drive value for our
Spherix Incorporated was launched in 1967 as a scientific research
company.Spherix presently offers a diversified commercialization platform for
protected technologies.The company continues to work on life sciences and
drug development and presently is exploring opportunities in nutritional
supplement products relying on its D-Tagatose natural sweetener as a GRAS
ingredient.Spherix is committed to advancing innovation by active
participation in all areas of the patent market. Spherix draws on portfolios
of pioneering technology patents to partner with and support product
Forward Looking Statements
Certain statements in this press release constitute "forward-looking
statements" within the meaning of the federal securities laws. Words such as
"may," "might," "will," "should," "believe," "expect," "anticipate,"
"estimate," "continue," "predict," "forecast," "project," "plan," "intend" or
similar expressions, or statements regarding intent, belief, or current
expectations, are forward-looking statements. While the Company believes these
forward-looking statements are reasonable, undue reliance should not be placed
on any such forward-looking statements, which are based on information
available to us on the date of this release. These forward looking statements
are based upon current estimates and assumptions and are subject to various
risks and uncertainties, including without limitation those set forth in the
Company's filings with the Securities and Exchange Commission (the "SEC"), not
limited to Risk Factors relating to its patent business contained therein.
Thus, actual results could be materially different. The Company expressly
disclaims any obligation to update or alter statements whether as a result of
new information, future events or otherwise, except as required by law.
Phone: (703) 992-9325
SOURCE Spherix Incorporated
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