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ideally complements both HBC and Symrise’s current portfolio with science-led,
clinically proven marine ingredients for Consumer Health. HBC have also signed
an exclusive distribution agreement for OmeGo®, ProGo® and NT-II™ into the
Consumer Health and Functional Food categories for four of Symrise’s global key
accounts.
Hofseth BioCare ASA (“HBC”) today announced that it has signed a strategic
partnership with Symrise, a global leader producing flavours, functional
ingredients and solutions that enhance sensory properties and nutrition in a
sustainable way. With this partnership, HBC and Symrise will expand its presence
in the Health category with clinically proven marine ingredients. Symrise will
ideally complement its current portfolio and through its loan, will accelerate
HBC’s scale with the construction of a second facility in Berkåk. Accompanying
the partnership is an exclusive agreement to distribute HBC branded ingredients
into four Symrise global key accounts.
The proceeds from the loan will be used for converting the HBC Berkåk facility
into a state-of-the-art enzymatic hydrolysis plant that will triple the current
production of HBC. Symrise and HBC will further explore the possibilities of
collaboration on new product developments and leverage Symrise’s market reach to
promote HBC products globally. HBC Berkåk facility is now fully funded with
Symrise’s loan and an approved credit facility of NOK 60m from Sparebank 1
Nordmøre. We expect all permissions to build out the plant to be approved by the
second quarter 2025 and the expansion of a new hydrolysis plant to start
immediately thereafter. Preliminary start of production is targeted to the
second quarter of 2027.
“This partnership with HBC is testament to their unique footprint and
differentiated science. Their investments in clinical studies to demonstrate
proven benefits in key categories of metabolic health, immune health, gut health
and mobility, stands them apart. This partnership is well aligned with our
willingness to accelerate in health in the context of our “One Care” journey but
also with the recent creation of the Global Marine Platform to explore the vast
potential that the oceans could offer us.”, said Dr. Jean-Yves Parisot, CEO of
Symrise AG.
Sustainability is deeply embedded into HBC’s DNA. HBC has developed a unique
proprietary technology to upcycle fresh salmon offcuts not used in the
production of fillets into bioactive ingredients with demonstrated health
benefits. The collaboration between HBC and Symrise will enhance the public
awareness of the health value of marine ingredients and will further help
position HBC as the leader in science-led marine nutrition, globally.
Jon Olav Ødegård commented: “Symrise have been a key partner for us already and
we are very excited to move ahead as they will help transform our scale and
market access with their well-established market presence. The human health and
premium pet markets continue to grow very strongly, and this partnership will
allow us to sustain our growth trajectory and position us as the leading player
in the science-led marine nutrition segment dedicated to human health.”
Investor Contact:
Jon Olav Ødegård, CEO of Hofseth BioCare ASA
Phone: +47 936 32 966
Email: joo@hofsethbiocare.no
About Hofseth BioCare ASA: Hofseth BioCare is a Norwegian consumer and pet
health company founded on the core values of sustainability, optimal utilization
of natural resources and full traceability. It upcycles the side streams of the
salmon industry by taking fresh filleted salmon and converting it from a waste
product into ingredients to improve human and pet health. These ingredients are
ProGo®, a mix of bioactive peptides and collagen, OmeGo®, a whole salmon oil,
with all the fatty acid fractions contained in fish, and CalGo® / NT-II™ salmon
bone powder containing calcium hydroxyapatite and undenatured collagen for bone
and joint health. HBC places scientific evidence at the forefront which has led
to important academic partnerships and the identification of unique health
benefits. This includes the demonstration of improved iron metabolism by
boosting the body’s ability to take up and use iron resulting in increased
energy and vitality with ProGo® as well as the activation of the GLP-1 receptor
with fat reduction in overweight adults. OmeGo® has shown important immune
health benefits including recovery from viral infection and improved respiratory
health and sleep in adults troubled by particulate matter pollution. Finally,
CalGo® has shown both bone and joint health benefits to support healthy ageing
and active lifestyles. This work has also resulted in the granting of a number
of patents protecting these discoveries. It has also led to the discovery of
potential therapeutics and HBC has spun out a biotech-focused company, HBC
Immunology (HBCI). HBCI has raised external finance, and the lead program is in
prostate cancer followed by ovarian cancer. A separate molecule is targeted as
an oral, steroid-sparing therapy for asthma.
About Symrise AG: Symrise is a global supplier of fragrances, flavours, food,
nutrition and cosmetic ingredients. Its clients include manufacturers of
perfumes, cosmetics, food and beverages, pharmaceuticals and producers of
nutritional supplements and pet food. Its sales of around EUR5 billion in the
2024 fiscal year make Symrise a leading global provider. Headquartered in
Holzminden, Germany, the Group is represented by more than 100 locations in
Europe, Africa, the Middle East, Asia, the United States and Latin America.
Symrise works with its clients to develop new ideas and market-ready concepts
for products that form an integral part of everyday life. Economic success and
corporate responsibility are inextricably linked as part of this process.
Symrise - always inspiring more ?
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation (MAR) and is subject to the disclosure requirements
pursuant to MAR article 17 and section 5-12 of the Norwegian Securities Trading
Act.
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