Mr. Jim Hamilton of Neptune reports

USPTO ISSUES POSITIVE DECISION THAT TRIGGERS ROYALTY PAYMENTS TO NEPTUNE

Neptune Technologies & Bioressources Inc. and Acasti Pharma Inc. have provided the following update. On March 23, 2015, the Patent Trial and Appeal Board (PTAB) of the U.S. Patent and Trademark Office (USPTO) issued a favourable decision, confirming the validity of certain claims in Neptune's '351 patent (U.S. patent 8,278,351) and triggering royalty payments to Neptune.

"This is a significant milestone that triggers the payment of ongoing royalties to Neptune by Aker and Enzymotec, based on their sales of licensed krill oil products in the U.S.," highlighted Jim Hamilton, president and chief executive officer of Neptune. "The decision clearly supports the validity and enforceability of Neptune's '351 composition of matter patent. Now that the positive decision has been rendered, we can turn our attention to building the industry and growing the krill oil market."

"Our intellectual property (IP) is a fundamental and valuable asset," highlighted Benoit Huart, director of legal affairs at Neptune. "The positive decision preserves strong IP protection for both our nutraceutical and pharmaceutical businesses and substantiates our IP procurement and enforcement strategy. Aker and Enzymotec may appeal the decision. Regardless, the strength of our patent estate has once again been recognized. We will continue to enforce and build upon it to ensure we have long-lasting and comprehensive protection, while preventing others from importing into and selling infringing products wherever we have valid patents."

Background

On Dec. 17, 2013, and April 27, 2014, Neptune announced that it had successfully concluded a settlement and licence agreement with Aker and Enzymotec, respectively. Neptune granted a worldwide, non-exclusive, royalty-bearing licence to both parties to market and sell nutraceutical products in the licensed countries. Pursuant to the terms of these settlements, royalty levels in the United States depended on the outcome of an inter partes review at the PTAB of certain claims from Neptune's '351 patent. In light of the PTAB's decision, Aker and Enzymotec will be obligated to make royalty payments to Neptune based on their sales of licensed krill oil products in the United States.

Under the terms of the settlement agreement with Enzymotec, its royalty obligations in Australia were similarly dependent on the outcome of a potential request with the Australian Patent Office for a review of certain claims of Neptune's Australian composition of matter patent (AU 2002322233). As Neptune expected, Enzymotec decided to pursue a patent re-examination, and the review recently commenced. In Australia, once a patent re-examination request is filed, the Australian Patent Office must conduct it. There are no mechanisms by which the patentee (Neptune) can attempt to prevent this procedure. Neptune has until the end of March, 2015, to respond to the re-examination report recently issued by the Australian Patent Office. The re-examination in Australia has no effect on Neptune's licence agreements with Rimfrost and Aker.

We seek Safe Harbor.