BETHESDA, Md., March 8, 2016 /PRNewswire/ -- Spherix
Incorporated (Nasdaq: SPEX) -- an intellectual property
development company committed to the fostering and monetization of
intellectual property and the advancement of technology, today
provided an update on the Company's monetization efforts and
announced a collaboration agreement with Equitable IP Corporation
("Equitable"), a leading patent enforcement and monetization
fund.
Spherix announced that Equitable and the Company have executed a
collaborative agreement to monetize a portion of Spherix's patent
portfolio. Equitable is a patent enforcement and monetization
fund that has brought together key leadership from the areas of
investment fund management, patent litigation, and patent
monetization strategy. The initial collaborative effort
between Spherix and Equitable will involve monetization of the
CompuFill patent portfolio, which relates to the telephonic
refilling of patient prescriptions. The Company believes
there is widespread infringement of this portfolio.
Anthony Hayes, CEO of Spherix,
said, "We are executing on the new strategy announced in our recent
shareholder letter. This collaborative effort with Equitable
marks the first of what we hope to be many collaborative efforts to
monetize our portfolio and deliver shareholder value.
Equitable has assembled a powerful and accomplished team including
some of the best players from finance, patent litigation and patent
monetization. Equitable's financial resources are significant
and the marriage of their resources with our IP will help deliver
value to our shareholders. This is a first step in what we
hope will be larger effort to monetize our portfolio of
assets."
Dean Becker, Chairman of
Equitable IP Corporation, stated, "Equitable is committed to
investing and enforcing valuable patent rights. We are
pleased to be working with Spherix and we are excited about the
potential licensing possibilities from these assets."
About Spherix
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 innovation. Spherix has
acquired over 100 patents from Rockstar Consortium Inc., and
several hundred patents issued to Harris Corporation, covering a
variety of methods and components involved in switching, routing,
networking, optical and telecommunication sectors.
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 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.
Contact:
Investor Relations:
Hayden IR
Brett Maas, Managing Partner
Phone: (646) 536-7331
Email: brett@haydenir.com
www.haydenir.com
Spherix:
Phone: (703) 992-9325
Email: info@spherix.com
www.spherix.com
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SOURCE Spherix Incorporated