Hofseth Biocare ASA: HBC ACCELERATES IN HUMAN HEALTH AND PET NUTRITION THROUGH A STRATEGIC PARTNERSHIP WITH SYMRISE TO BUILD OUT BERKÅK, TRIPLING THE MANUFACTURING CAPACITY OF THE GROUP

HBC will accelerate its manufacturing scale and market reach with the construction of a second enzymatic hydrolysis plant in Berkåk, Norway. Symrise will support the financing of the project through a EUR 5m loan. The partnership ideally complements both HBC and Symrise’s current portfolio with science-led, clinically proven marine ingredients for Consumer Health. HBC have also signed an exclusive distribution agreement for OmeGo®, ProGo® and NT-II™ into the Consumer Health and Functional Food categories for four of Symrise’s global key accounts.

Hofseth BioCare ASA (“HBC”) today announced that it has signed a strategic partnership with Symrise, a global leader producing flavours, functional ingredients and solutions that enhance sensory properties and nutrition in a sustainable way. With this partnership, HBC and Symrise will expand its presence in the Health category with clinically proven marine ingredients. Symrise will ideally complement its current portfolio and through its loan, will accelerate HBC’s scale with the construction of a second facility in Berkåk. Accompanying the partnership is an exclusive agreement to distribute HBC branded ingredients into four Symrise global key accounts.

The proceeds from the loan will be used for converting the HBC Berkåk facility into a state-of-the-art enzymatic hydrolysis plant that will triple the current production of HBC. Symrise and HBC will further explore the possibilities of collaboration on new product developments and leverage Symrise’s market reach to promote HBC products globally. HBC Berkåk facility is now fully funded with Symrise’s loan and an approved credit facility of NOK 60m from Sparebank 1 Nordmøre. We expect all permissions to build out the plant to be approved by the second quarter 2025 and the expansion of a new hydrolysis plant to start immediately thereafter. Preliminary start of production is targeted to the second quarter of 2027.

“This partnership with HBC is testament to their unique footprint and differentiated science. Their investments in clinical studies to demonstrate proven benefits in key categories of metabolic health, immune health, gut health and mobility, stands them apart. This partnership is well aligned with our willingness to accelerate in health in the context of our “One Care“ journey but also with the recent creation of the Global Marine Platform to explore the vast potential that the oceans could offer us.”, said Dr. Jean-Yves Parisot, CEO of Symrise AG.

Sustainability is deeply embedded into HBC’s DNA. HBC has developed a unique proprietary technology to upcycle fresh salmon offcuts not used in the production of fillets into bioactive ingredients with demonstrated health benefits. The collaboration between HBC and Symrise will enhance the public awareness of the health value of marine ingredients and will further help position HBC as the leader in science-led marine nutrition, globally.

Jon Olav Ødegård commented: “Symrise have been a key partner for us already and we are very excited to move ahead as they will help transform our scale and market access with their well-established market presence. The human health and premium pet markets continue to grow very strongly, and this partnership will allow us to sustain our growth trajectory and position us as the leading player in the science-led marine nutrition segment dedicated to human health.”

Investor Contact:

Jon Olav Ødegård, CEO of Hofseth BioCare ASA
Phone: +47 936 32 966
Email: joo@hofsethbiocare.no

About Hofseth BioCare ASA: Hofseth BioCare is a Norwegian consumer and pet health company founded on the core values of sustainability, optimal utilization of natural resources and full traceability. It upcycles the side streams of the salmon industry by taking fresh filleted salmon and converting it from a waste product into ingredients to improve human and pet health. These ingredients are ProGo®, a mix of bioactive peptides and collagen, OmeGo®, a whole salmon oil, with all the fatty acid fractions contained in fish, and CalGo® / NT-II™ salmon bone powder containing calcium hydroxyapatite and undenatured collagen for bone and joint health. HBC places scientific evidence at the forefront which has led to important academic partnerships and the identification of unique health benefits. This includes the demonstration of improved iron metabolism by boosting the body’s ability to take up and use iron resulting in increased energy and vitality with ProGo® as well as the activation of the GLP-1 receptor with fat reduction in overweight adults. OmeGo® has shown important immune health benefits including recovery from viral infection and improved respiratory health and sleep in adults troubled by particulate matter pollution. Finally, CalGo® has shown both bone and joint health benefits to support healthy ageing and active lifestyles. This work has also resulted in the granting of a number of patents protecting these discoveries. It has also led to the discovery of potential therapeutics and HBC has spun out a biotech-focused company, HBC Immunology (HBCI). HBCI has raised external finance, and the lead program is in prostate cancer followed by ovarian cancer. A separate molecule is targeted as an oral, steroid-sparing therapy for asthma.

About Symrise AG: Symrise is a global supplier of fragrances, flavours, food, nutrition and cosmetic ingredients. Its clients include manufacturers of perfumes, cosmetics, food and beverages, pharmaceuticals and producers of nutritional supplements and pet food. Its sales of around €5 billion in the 2024 fiscal year make Symrise a leading global provider. 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. Symrise works with its clients to develop new ideas and market-ready concepts for products that form an integral part of everyday life. Economic success and corporate responsibility are inextricably linked as part of this process. Symrise – always inspiring more …

This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and section 5-12 of the Norwegian Securities Trading Act.