InCog™, Enzymotec's Innovative Lipid Composition for Cognitive Functioning, Enhances Brain Development and Improves Surviva...
March 16 2016 - 7:30AM
Enzymotec Ltd., (NASDAQ:ENZY) (“Company” or "Enzymotec"), a
developer, manufacturer and marketer of innovative bio-active lipid
based nutritional ingredients and medical foods, announced today
that InCogTM, an innovative lipid composition that is intended to
mimic certain characteristics of human breast milk contributing to
cognitive development, demonstrated enhanced brain development and
improved survival in a preclinical study.
The study evaluated the effects of InCogTM in a
term and preterm piglet model relevant for infants and demonstrated
beneficial effects on brain development. In the preclinical study,
only preterm piglets fed with a diet supplemented with InCogTM
showed a significant increase in the weight of the cerebellum,
leading to no discernible difference from normal term piglets.
Additionally, only piglets on the diet that included InCogTM showed
significantly elevated levels, by 52% as compared to control, of
specialized cells within the cerebellum. These cells are
responsible for motor and sensory information transmission. The
study results also indicated substantial improvement in survival
rates in both term and preterm piglets that were provided with
supplemental InCogTM in their diet as compared to piglets on
a diet without InCogTM. The study was conducted in collaboration
with the University of Memphis.
These positive results will be presented at the
Third International Conference on Nutrition & Growth in Vienna,
Austria on March 17 – 19, 2016.
“We are extremely encouraged by the results of this
preclinical trial for InCogTM. Enzymotec remains dedicated to our
research and development efforts as we continue to expand our
product offering in infant nutrition. This trial is just another
example of the value proposition that we can offer to our customers
and our clinical research efforts stand at the core of our ability
to advance up the value chain,” stated Dr. Ariel Katz, Enzymotec’s
Chief Executive Officer.
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
press release may contain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended,
Section 21E of the Securities Exchange Act of 1934, as amended and
the safe harbor provisions of the U.S. Private Securities
Litigation Reform Act of 1995, that are based on our management’s
beliefs and assumptions and on information currently available to
our management. Forward-looking statements include all statements
that are not historical facts and can be identified by terms such
as “anticipates,” “believes,” “could,” “seeks,” “estimates,”
“expects,” “intends,” “may,” “plans,” “potential,” “predicts,”
“projects,” “should,” “will,” “would” or similar expressions that
convey uncertainty of future events or outcomes and the negatives
of those terms. Forward-looking statements include
information concerning our possible or assumed future results of
operations, business strategies, financing plans, competitive
position, industry environment, potential growth opportunities,
potential market opportunities and the effects of
competition. 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. Some of the important factors that
could cause or contribute to such differences include the
following: a high proportion of the sales of the InFat product is
to our customers who then use it in their infant formula products
sold to end users in China and therefore our revenues are subject
to the effects of Chinese market trends and competition from
locally produced products that are not subject to import taxes;
growth in the Chinese economy has moderated and this slowdown and
related volatility could adversely impact demand for our products
in China; we are subject to a degree of customer concentration and
our customers do not enter into long-term purchase commitments with
us; the demand for products based on omega-3, and, in particular,
premium products such as krill oil, has declined in the past and
may continue to decline, which, together with a significant
increase in capacity by competing manufacturers, may continue to
cause intense competition and price pressures; Chinese regulations
relating to infant formula are under re-examination, and any
regulatory changes affecting the ability of our customers to market
infant nutrition products containing InFat could adversely affect
our business; we rely on our Swedish joint venture partner to
manufacture InFat and certain matters related to the joint venture
are the subject of a pending arbitration with said partner; A
significant portion of the sales of our InFat product is to a
single company. If this company were to suffer financially or
reduce its use of InFat our business could be materially adversely
affected; Our offering of products as "medical foods" in the United
States may be challenged by regulatory authorities; our product
development cycle is lengthy and uncertain, and our development or
commercialization efforts for our products may be unsuccessful; Our
inventories include sensitive compounds which may face spoilage or
obsolescence; Potential future acquisitions of companies or
technologies may require management’s time and attention, may
disrupt our business and may not yield the returns expected;
Variations in the cost of raw materials for the production of InFat
may have a material adverse effect on our business; we are
dependent on a single facility that houses the majority of our
operations; we depend on third parties to obtain raw materials, in
particular krill, necessary for the production of our products; we
anticipate that the markets in which we operate will become more
competitive and we may be unable to compete effectively; 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; Unfavorable publicity or consumer perception of our
products, the supplements that contain them as ingredients and any
similar products distributed by other companies could have a
material adverse effect on our reputation, the demand for our
products and our business; we depend on third parties to obtain raw
materials, in particular krill, necessary for the production of our
products; we are generally reliant upon third parties for the
distribution or commercialization of our products; We may not be
able to maintain or increase market acceptance for our products; We
may not be able to maintain or increase market acceptance for our
products; We are subject to risks relating to the operation and
expansion of our production or processing facilities and
capabilities; Disruption to our IT system could adversely affect
our reputation and have a material adverse impact on our business
and results of operations; We are not able to predict the results
of clinical trials, which may prove unsuccessful or be delayed by
certain factors; our ability to obtain krill may be affected
by conservation regulation or initiatives; We could be subject to
product liability lawsuits, which could result in costly and
time-consuming litigation and significant liabilities, and other
factors discussed under the heading "Risk Factors" in our annual
report on Form 20-F for the year ended December 31, 2015 filed with
the Securities and Exchange Commission on March 3, 2016.
You should not put undue reliance on any
forward-looking statements. Although we believe that the
expectations reflected in the forward-looking statements are
reasonable, we cannot guarantee that future results, levels of
activity, performance and events and circumstances reflected in the
forward-looking statements will be achieved or will occur. 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.
The Ruth Group
Tram Bui / Lee Roth
Phone: 646-536-7035 / 7012
tbui@theruthgroup.com
lroth@theruthgroup.com
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