Capricorn Grants Non Exclusive License to Matrixx Initiatives, Inc – Zicam LLC

Capricorn Pharma, Inc. has settled its litigation with Matrixx Initiatives, Inc, and its wholly owned subsidiary, Zicam LLC. As a result of the settlement, Capricorn has granted to Matrixx a limited, non-exclusive license to Capricorn’s innovative and patented RAPIDMELT™ technology. The License covers Matrixx’s current Zicam products and substantial equivalents only. In addition, Matrixx has agreed to assign to Capricorn any patents issuing from two of Matrixx’s pending patent applications with a grant back to Matrixx of a non-exclusive license.

Capricorn will retain ownership of its RAPIDMELT™ mark for all of its products, but has agreed not to use the RAPIDMELT™ mark on any cold remedy products for a period of three years.