EU DISTRIBUTION AGREEMENT SIGNED WITH PRINOVA EUROPE FOR MARINE BRANDED PRODUCTS RANGE
Hofseth BioCare (“HBC”) has today signed a comprehensive distribution contract with Prinova Europe (“Prinova”). The agreement is a European exclusive distribution contract for branded marine products. With a unique and sustainable technology, HBC extracts key ingredients from salmonid fish as hydrolysed, soluble protein, calcium bone powder and oil. Prinova will distribute a diverse product range from Atlantic salmon based on HBC technology and preserved within hours of harvesting.
This agreement is an important step towards global distribution and fits well together with the work-in-progress on the distribution agreement with Nestlé-owned Garden of Life® for distribution of HBC products in the USA.
The products included in the distribution agreement are:
- ProGo® Salmon Protein Hydrolysate; a soluble protein powder, which is a hydrolysed protein fraction with more than 97 % pure hydrolysed protein, suitable for sports, endurance and recovery nutrition, and may be used in powder formulations, bars, drinks and tablets.
- CollaGo® Collagen Peptides: A soluble Type I & III Collagen Peptide powder good for skin, muscles and arteries. Recent studies have proven its benefit for beauty enhancement including hair, skin and nails; and also, for energy. It can be used in different formats including powders, bars, tablets and beverages.
- CalGo® Marine Bone powder: a collagen calcium powder containing 24 % Type II Collagen, 19 % elemental Calcium, 9 % elemental Phosphorous. It supports joint cartilage function and heart health. It can be applied in tablets, powders and other formats.
- OmeGo® Salmon Oil: a full spectrum of omega fatty acids oil including Omega 3, 5, 6, 7, 9 & 11, EPA, DHA, DPA, natural amounts of antioxidants, and no added chemicals for increasing stability. It is beneficial for maintaining healthy cholesterol and cardiovascular function. It can be formulated in soft gel caps and other formats.
The HBC product range is non-GMO, does not contain antibiotics, solvents, or chemicals and is highly sustainable with zero waste during production. It delivers easily absorbed bioactive peptides from HBC’s proprietary tailored enzymatic technology. HBC’s bioactive peptides are being developed into healthcare products for treating iron-deficiency anaemia, NEC/Irritable Bowel Syndrome and Sarcopenia.
According to ‘Research and Markets’, the Marine Collagen market is expected to reach US$ 895.7 Million by 2023, growing at a CAGR of 7.7% from 2020 to 2023.
Tony Gay, Head of Technical Sales & NPD at Prinova comments that: “we are very excited to represent Hofseth BioCare in the European market. With the combination of their high quality, innovative products and the trend on increased interest in sustainable marine ingredients, I feel their range is very in line with the latest trends. We are already working on concepts to show Hofseth BioCare ingredients in applications for; Beauty from Within, Exercise Recovery & Energy, Cardiovascular Support and Bone Health. These concepts will be available on our stand at Vitafoods exhibition in Geneva (Stand# G54) and customer meetings over the coming months.”
“HBC process is focused on sustainability and traceability concept. Optimal locations make it possible to deliver the freshest salmon products there is – using the whole Fish. With our traceability system and cooperation with our main suppliers, we are currently able to link the production process from fish eggs to final Products. HBC is also certified sustainable by Friend of the Sea and are the pioneer in the global market for turning fish off-cuts into high-value nutrition for humans and pets. We see a broad application for our products especially for dietary supplements, sports powders and beverages. We are transparent with companies and have scientific studies proving each product’s benefits for specific health conditions.” comments Roger Hofseth, CEO of HBC.
For further information, please contact:
James Berger, Head of Investor Relations & Strategy at Hofseth BioCare ASA
Phone: +41 799501034
Tony Gay, Head of Technical Sales & NPD at Prinova
Phone: +44 2073971086
Since 1978, Prinova has been a leader in providing high-quality ingredients, flavours and value-added nutrient fortification products to the global food, feed and wellness industries. Prinova operates 6 plants and holds strategic stocks in 35+ distribution centres around the world to ensure continuity of supply and is the leading global supplier of Vitamin C, B and food grade Amino Acids. The company also has a team of application and technical specialists within their R&D and Quality Laboratory to help customers develop, improve, and enhance the taste and function of their products. Prinova’s facilities are BRC certified. The company’s main corporate office is in Carol Stream, Illinois with the European head office in the United Kingdom and a regional office in Canada. Additional regional offices are located throughout the United States as well as global sales associates in Mexico, Spain, Germany, Belgium, France, Australia, Turkey and China. For more information, visit Company’s website www.prinovaeurope.com
About Hofseth BioCare
HBC is a Norwegian biotech company that develops high-value ingredients and finished products. Ingredients are further developed into discovery and pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are development towards a Gastro-Intestinal (GI) Protective Medical Food, Medical Food to help treat age-related Sarcopenia, and future pharmaceutical clinical studies on the treatment of Anemia and NEC-IBS with Salmon Protein Hydrolysate fractions. The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, Chicago, Mumbai, Menlo Park and Tokyo. HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at www.hofsethbiocare.com
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act