Ceapro Signs Exclusive Long-Term Supply and Distribution Agreement with Leading Global Provider of Active Ingredients, Symrise
March 10 2022 - 8:05AM
Ceapro Inc. (TSX-V: CZO; OTCQX: CRPOF)
(“Ceapro” or the “Company”), a growth-stage biotechnology
company focused on the development and commercialization of active
ingredients for healthcare and cosmetic industries, today announced
the signing of a long-term agreement with German-based
multinational, Symrise AG, for the distribution and
commercialization of Ceapro’s high value active ingredients to
major key international players in the cosmetic market.
Under the agreement, Symrise is guaranteed to
purchase minimum annual volumes of Ceapro’s high value active
ingredients. Financial terms of the agreement were not
disclosed.
“Symrise has been and will continue to be a
valued, committed partner and we are very pleased to have renewed
this agreement with them. This agreement not only provides security
for our ongoing cosmeceuticals base business but also is expected
to enable us to accelerate the growth of that base business through
the potential to expand the list of exclusive customers to Symrise.
We are delighted for the vote of confidence towards our Company and
especially for the recognition of the quality and uniqueness of
Ceapro's products,” said Gilles Gagnon, President and CEO of
Ceapro. “We are confident that our partnership with Symrise, one of
the most respected player in our industry, will continue to equally
aid in the achievement of our common goals" he added.
“Ceapro and Symrise have a long-standing
relationship in product development that has benefitted both
companies over the years,” said Joern Andreas, President Cosmetic
Ingredients Division, Symrise AG. “We see great value in this
partnership and are very pleased to have secured this agreement,
which will continue to pave the way for future developments that I
believe will benefit both companies in creating value.”
About Ceapro Inc.
Ceapro Inc. is a Canadian biotechnology company
involved in the development of proprietary extraction technology
and the application of this technology to the production of
extracts and “active ingredients” from oats and other renewable
plant resources.
Ceapro adds further value to its extracts by
supporting their use in cosmeceutical, nutraceutical and
therapeutics products for humans and animals. The Company has a
broad range of expertise in natural product chemistry,
microbiology, biochemistry, immunology and process engineering.
These skills merge in the fields of active ingredients,
biopharmaceuticals and drug-delivery solutions. For more
information on Ceapro, please visit the Company’s website at
www.ceapro.com.
About SymriseSymrise is a
global supplier of fragrances, flavors, food, nutrition and
cosmetic ingredients. Its clients include manufacturers of
perfumes, cosmetics, food and beverages, pharmaceuticals and
producers of nutritional supplements and pet food. Headquartered in
Holzminden, Germany, the Group is represented by more than 100
locations in Europe, Africa, the Middle East, Asia, the United
States and Latin America. www.symrise.com
Neither the TSX Venture Exchange nor its
Regulation Service Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
INVESTOR AND MEDIA CONTACT:Jenene ThomasJenene
Thomas Communications, LLCT (US): 908-938-1475E:
jenene@jenenethomascommunications.com
Source: Ceapro Inc.
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