Enzymotec Ltd. Granted Patents in U.S. for Compositions and Processes Related to Infant Nutrition and China for INFAT® Uses ...
March 29 2016 - 7:30AM
Enzymotec Ltd., (Nasdaq:ENZY), a developer, manufacturer and
marketer of innovative bio-active lipid based nutritional
ingredients and medical foods, announced today that the Company has
been granted two patents, one by the United States Patent Office
and the second by the Chinese Patent and Trademark Office.
The U.S. patent covers certain substitute milk
fat compositions and the processes related to their production as
it pertains to infant nutrition. The Chinese patent covers the use
of INFAT® in promoting the development of beneficial gut flora in
subjects at risk of developing an imbalance and in reducing the
frequency and duration of infant crying. INFAT® is a
clinically-proven fat ingredient that closely resembles the
composition, structure and nutritional value of natural fat found
in human breast milk that is necessary for proper infant health,
development and comfort.
“We are pleased to be granted these two patents
that will supplement our already robust intellectual property
portfolio as we continue to execute on our strategy to lead the
market through innovation. We believe that we offer a distinct
advantage to our infant nutrition customers as the industry leader
in lipids technology," commented Mr. Avner Avissara, CEO of
Advanced Lipids and Enzymotec’s VP of Sales for Infant Nutrition,
Nutrition Division. "We look forward to continuing to develop and
advance the benefits of INFAT® and add value for our
customers."
Previously published clinical data demonstrated
that infants fed with formula containing INFAT® developed a more
beneficiary gut bacteria profile compared to a control formula.
Beneficial gut bacteria promote good health and development and an
ability to prevent infections. Additional clinical data indicated
that babies nourished with infant formula containing INFAT® cry
less and for a shorter duration in comparison to babies fed with
infant formula not containing INFAT®.
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.
About Advanced Lipids
Advanced Lipids is a joint venture of AAK and
Enzymotec. For more information, visit www.advancedlipids.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, disrupt
our business and 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 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.
Contact:
The Ruth Group
Tram Bui / Lee Roth
(646) 536-7035/7012
tbui@theruthgroup.com
lroth@theruthgroup.com
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