Enzymotec Ltd. Granted New Patents for INFAT® in the U.S., Vayacog® in Japan and Phospholipid-Based Products in Canada and ...
September 27 2016 - 7:30AM
Enzymotec Ltd. (Nasdaq:ENZY) ("Enzymotec" or the "Company"), a
developer, manufacturer and marketer of innovative bio-active lipid
based nutritional ingredients and medical foods, announced today
that it has been granted new patents in the United States, Japan,
Canada and Korea that cover several of the Company’s products,
including INFAT
®, Vayacog
® and
phospholipid-based products.
INFAT®, the innovative ingredient that is marketed
by Advanced Lipids, a joint venture of AAK and Enzymotec, has been
granted a patent by the United States Patent and Trademark Office
for promoting the development of beneficial gut flora and improving
the immune system of infants suffering from an immune system
disorder resulting from gut flora imbalance.
Vayacog®, a unique lipid composition essential for
the management of key biochemical modifications underlying losses
in brain function, has been granted a patent in Japan for its
composition and use in improving the condition of subjects
suffering from cognitive disorders.
The granted patents in Korea and Canada cover a
wide variety of phospholipid-based compositions that include long
chain poly-unsaturated fatty acids, and are pertinent to a number
of Enzymotec's products, such as the K•REAL® krill oil products and
additional advanced phospholipid products.
Dr. Ariel Katz, President and Chief Executive
Officer of Enzymotec, commented, “The further strengthening of our
intellectual property portfolio worldwide reinforces our
competitive advantage and value proposition as an industry leader
in lipids technology. We are committed to the continued development
of our comprehensive suite of clinically proven products which will
enhance our ability to advance up the value chain.”
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 ingredients,
as well as final products, based on sophisticated processes and
technologies. 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.
About VAYA Pharma
VAYA Pharma is a specialty pharmaceutical division
of Enzymotec Ltd. dedicated to the discovery, development,
manufacture and marketing of innovative proprietary clinically
tested lipid-based compositions familiar to the human body for
addressing disorders that are impacted by lipid imbalances.
VAYA Pharma's medical food portfolio addresses
three therapeutic segments: ADHD (Vayarin®), Early Memory
Impairment (Vayacog®) and Hypertriglyceridemia (Vayarol®). VAYA
Pharma products are available in the U.S. only by prescription
under the supervision of a physician. For more information,
visit www.vayapharma.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®; a significant portion of the sales of the
INFAT® product is to a single company and 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 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
Phone: 646-536-7035 / 7012
tbui@theruthgroup.com
lroth@theruthgroup.com
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