IMCD AND HBC EXTEND INTERNATIONAL AGREEMENT TO INCLUDE EUROPE
Ålesund, Norway 15th April 2021: European Biotech and consumer health company HBC has confirmed plans to extend an exclusive distribution agreement for its marine branded products with leading speciality chemicals and ingredients distributor IMCD.
The current relationship will now be expanded to include most of Europe and is effective immediately. It marks a significant step in increasing HBC’s potential market opportunities and the ability of consumers to access the recognised benefits of HBC nutritional and nutraceutical grade salmon protein products such as OmeGo®, ProGo® and CalGo®.
An important element to this comprehensive commercial relationship is a focus on how to ensure HBC products are best able to satisfy local needs and expectations in each potential consumer market. IMCD has already successfully developed a taste masked formulation concept for OmeGo®.
Work is now underway on developing similar formulations for CalGo® and ProGo®. ProGo® is the first and only non-iron containing product on the US market to “support healthy levels of ferritin and hemoglobin” for the prevention of iron deficiency anemia, one of six structure function claims acknowledged by the FDA last year.
Roger Hofseth, Chief Executive of Hofseth Biocare ASA welcomed the news by saying, “I’m pleased that this partnership is set to increase the availability of European consumers to our all-natural, non-GMO and additive-free products. Our large investments in both manufacturing and scientific research made over the past few years continue to bear fruit.”
Bora Turan, Nutraceuticals Director from IMCD says: “We are delighted to extend our relationship with HBC to the European market. HBC’s innovative, holistic, and science-based product portfolio combined with IMCD’s strong formulation expertise, such as OmeGo gummies and ProGo gel formula, will enable us to serve well our customers while meeting their aspirations for a healthier lifestyle.”
Two weeks ago, HBC announced Nestle-owned organic health supplement firm will launch a range of new products with ProGo® later this year in US retail and online markets.
The partnership with IMCD, which is headquartered in the Netherlands, provides HBC with the benefits of its market insights and intelligence and access to its well-established international sales and distribution infrastructure. The ultimate aim of the agreement is to develop a comprehensive and complementary HBC specialty product range for all nutraceutical markets around the world. For further information, please contact:
James Berger, Chief Commercial Officer of Hofseth BioCare ASA
Phone: +41 79 950 10 34
About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as clinical work in COVID.
The company is founded on the core values of sustainability 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, London, Zürich, Chicago, Mumbai, Palo Alto and Tokyo.
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act