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Hofseth Biocare ASA: NESTLE-OWNED GARDEN OF LIFE TO LAUNCH NEW PRODUCTS WITH PROGO® IN US RETAIL & ONLINE MARKETS

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Hofseth Biocare ASA
·3-min read
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This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

This stock exchange notice follows previous references made in the Norwegian stock exchange notices issued on June 24th 2019 regarding the Letter of Intent with Garden of Life® and the last quarterly report from HBC, which was published on February 5th 2021.

European Biotech and consumer health company HBC has received the first Salmon Protein purchase orders from US-based organic health supplement firm Garden of Life. The Nestle owned company intends to launch new ProGo® consumer protein products which will be available online and for the North American markets in Q3 2021.

ProGo® is an all-natural, non-GMO and additive-free salmon protein hydrolysate. It is also the first and only non-iron containing product in 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 and one of the four approved Qualified Health Claims by Health Canada.

Roger Hofseth, Chief Executive of Hofseth Biocare ASA, said, “to be acknowledged by one of the best and premium consumer product brands in North America is a wonderful endorsement for HBC. HBC has made major investments in both manufacturing and scientific research and development in past few years and it is good to see that recognised by such a high-profile brand and have our sustainability story reach a new consumer audience.”

Garden of Life’s VP R&D and Regulatory, Jeff Brams, says “After a temporary Covid-19 delay in 2020, we are moving swiftly ahead with the long-awaited salmon protein launch. Our collaboration with Hofseth Biocare has enabled us to create a line of novel proteins that will be on trend, meet consumer’s taste preferences, deliver high quality nutrition, and fulfil our brand promise of sustainability.”

As part of their launch, GOL will also be co-branding the HBC ProGo® logo on their packaging, to ensure consumer traceability and full transparency of the supply chain.

Furthermore, HBC’s raw material was granted approval by the Non-GMO Project to supply Garden of Life, making the product even more unique in the marketplace.

For further information, please contact:
James Berger, Chief Commercial Officer of Hofseth BioCare ASA
Phone: +41 79 950 10 34
E-mail: jb@hofsethbiocare.no

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