Hofseth Biocare ASA: TOP TIER RECRUITMENT TO FURTHER STRENGTHEN FOCUS ON SALES AND MARKETING

Hofseth Biocare ASA (HBC) is delighted to announce the hiring of Reto Renggli as VP within HBC’s Consumer Health Division as of February 1st 2021.The new addition to the team is the last in a series of recruitments focusing on ramping up sales and international growth.

Mr Renggli is a highly accomplished leader with two decades of global experience in marketing, business development and the sales of scientific based branded raw materials to the human and pet food sector. He is the former Head of Sales and Marketing, Health Ingredients at Lonza, the Swiss based life sciences business and has broad experience of developing new products. He managed key commercial relationships with multinationals such as Nestle and Danone.

Reto Renggli said, “I was inspired to join HBC’s senior leadership team by the global opportunity I see for this rapidly growing biotech business. As we accelerate plans to commercialise and expand HBC’s product and ingredient ranges, our skills and experience are set to prove complementary.”

HBC is focused on its expansion across the entire consumer health sector and the creation of a global distribution network for its range of products and ingredients. In the final weeks of 2020, HBC announced a pan-Asian collaboration for its non-GMO and sustainable marine branded products with nutraceutical and pharmaceutical distributor DKSH. It extends to ten countries including India, Japan and China. A further exclusive agreement was signed with global speciality ingredients distributor IMCD for sixteen more countries incorporating most of South America, South Africa, Australasia, Turkey, the USA and Canada. These agreements follow the granting of a unique set of label claims for its bioactive peptide product ProGo® in North America, centred around the treatment of iron deficiency anemia. It is the first non-iron based alternative on the US market with documented health benefits, to help millions of people who struggle with the negative side effects of traditional iron supplements.

Mr Renggli joins Andy Gill, formerly of GSK and Novartis, appointed in January 2021, and Will Urban-Smith, formerly of Johnson & Johnson, to realise a long-term strategic plan to create shareholder value.

“Hiring Reto Renggli is a significant milestone for HBC and we are delighted he will be working alongside Andy and Will. These experienced sales executives from Tier One, global pharmaceutical and nutraceutical consumer health businesses will drive sales of HBC´s unique, sustainable, science and claim-backed natural health solutions. It speaks volumes about the opportunity at HBC. Leading healthcare and FMCG companies and professionals alike are starting to understand just how differentiated our clean, sustainable marine by-products are and the scale of our ability to provide the medicine of tomorrow, today. Reto’s addition is an enormous step forward for us to begin the process of selling more, particularly B2B in both the human and pet segments”, says CEO Roger Hofseth of Hofseth BioCare ASA.

For further information, please contact:
James Berger, Head of Investor Relations & Strategy at 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.

HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare