(By Balaseshan) Gevo Inc. (NASDAQ: GEVO) announced a significant win in Butamax Advanced Biofuels LLC litigation in Delaware court and a judgment of non-infringement will be entered in the favor of the Englewood, Colorado-based renewable chemicals and advanced biofuels company.
Butamax acknowledged that Gevo does not infringe Butamax`s asserted patents under the court's construction of a key claim term in Butamax`s Patent Nos. 7,851,188 and 7,993,889.
As a result of this victory, the trial scheduled for April 1 will no longer take place.
The judgment of non-infringement comes on the heels of the Court's important claim construction determination which held that Butamax's Patent Nos. 7,851,188 and 7,993,889 require the use of an "NADPH-dependent" (nicotinamide adenine dinucleotide phosphate-dependent) KARI.
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Butamax conceded that it could not establish that Gevo's KARI is NADPH-dependent. In addition to granting a judgment of non-infringement, the court invalidated Butamax's patent claims for the deletion of PDC.
PDC is the enzyme responsible for making ethanol and its deletion is required for the commercially viable production of isobutanol. Gevo's patents covering the deletion of PDC and the use of AFT are set for trial in August of this year, where Gevo is suing Butamax for patent infringement.
"Gevo continues to demonstrate that it does not infringe Butamax's patents because Gevo created an NADH-dependent KARI enzyme that enables Gevo's yeast strains to produce isobutanol at much greater efficiencies than strains using the NADPH-dependent enzymes claimed by Butamax," said Brett Lund, EVP and General Counsel for Gevo.
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GEVO is trading up 7.94% at $2.38 on Thursday. The stock has been trading between $1.36 and $10.39 for the past 52 weeks.