Enzymotec's InCog(TM), an Innovative Lipid Composition for Cognitive Functioning, Approved as Novel Food in Europe
December 01 2015 - 8:30AM
Enzymotec Ltd., (Nasdaq:ENZY), a developer, manufacturer and
marketer of innovative bio-active lipid based nutritional
ingredients and medical foods, announced today that its InCogTM, an
innovative lipid composition for cognitive functioning, received
Novel Food approval in Europe for conventional food, food
supplements and dietary food for special medical purposes.
InCogTM is a lipid composition that is intended to mimic certain
characteristics of human breast milk contributing to the
development of the human brain. Data suggests that InCogTM supports
cognitive functioning and is currently being developed as a key
cognitive ingredient for early nutrition. Prior to authorization as
a novel food in Europe, InCogTM was scientifically assessed to
ensure consumer safety.
"We are excited to achieve this important milestone in Europe
for InCogTM, which was in line with our expectations," said Dr.
Ariel Katz, President and Chief Executive Officer of Enzymotec.
"The Company continues to illustrate our commitment to scientific
data and product safety. We believe that InCogTM represents a value
added specialty product offering to the nutrition industry, which
will support a brand's effort to differentiate themselves in a
competitive landscape."
About Enzymotec Ltd.
Enzymotec is a leading global supplier of specialty lipid-based
products and solutions. The Company develops, manufactures, and
markets innovative bio-active lipid based nutritional ingredients
and medical foods, driven by a deep core of cutting-edge,
proprietary technologies intended to improve people's health. For
more information, visit www.enzymotec.com.
Forward Looking Statements
This release may contain forward-looking statements, which
express the current beliefs and expectations of Company management.
Such statements involve a number of known and unknown risks and
uncertainties that could cause our future results, performance or
achievements to differ significantly from the results, performance
or achievements expressed or implied by such forward-looking
statements. Important factors that could cause or contribute to
such differences include the following risks: A high proportion of
the sales of the InFat product is sold to end users in China and to
a single company; Growth in the Chinese economy has moderated and
this slowdown and related volatility could adversely impact demand
in China for our products; The demand for products based on Omega-3
and in particular, premium products, such as krill oil, has
declined and may continue to decline following a significant
increase in manufacturing capacity by manufacturers of these
products, resulting in intense competition and price pressure; Our
offering of products as "medical foods" in the United States may be
challenged by regulatory authorities; We rely on our Swedish joint
venture partner to manufacture InFat and certain matters related to
the joint venture are the subject of disagreement in an arbitration
proceeding; We are subject to a degree of customer concentration
and our customers do not enter into long-term purchase commitments
with us; We depend on third parties to obtain raw materials, in
particular krill, necessary for the production of our products; We
are dependent on a single facility that houses the majority of our
operations; We may have to pay royalties with respect to sales of
our krill oil products in the United States or Australia and any
infringement of intellectual property of others could also require
us to pay royalties; Potential future acquisitions of companies or
technologies may distract our management, may disrupt our business
and may not yield the returns expected; We anticipate that the
markets in which we participate will become more competitive and we
may be unable to compete effectively; We may not be able to
successfully expand our production or processing capabilities; Our
ability to obtain krill may be affected by conservation regulation
or initiatives; Our product development cycle is lengthy and
uncertain, and our development or commercialization efforts for our
products may be unsuccessful; and other factors discussed under the
heading "Risk Factors" in the Company's Form 20-F filed with the
Securities and Exchange Commission on March 2, 2015.
Forward-looking statements in this release are made pursuant to the
safe harbor provisions contained in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
made only as of the date hereof, and the Company undertakes no
obligation to update or revise the forward-looking statements,
whether as a result of new information, future events or
otherwise.
CONTACT: The Ruth Group
Tram Bui / Lee Roth
Phone: 646-536-7035 / 7012
tbui@theruthgroup.com
lroth@theruthgroup.com
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