MELBOURNE, Australia, Jan. 05, 2016 (GLOBE NEWSWIRE) -- Gordagen Pharmaceuticals, an Australian company developing evidence-based nutraceuticals and pharmaceuticals, today announced it has entered into a Collaborative Product Development Agreement with long-standing Japanese company Matsumoto Trading Co, Ltd.
The Agreement covers the development of a new functional food product for the Japanese market, which will incorporate Gordagen’s proprietary and patented MELT3™ tocotrienol delivery technology.
Initially, product development will focus on a novel functional food product to be developed by Gordagen for Matsumoto. A proof-of-concept phase of the project will be implemented in the first half of 2016. Under the agreement, Matsumoto will have the option to an exclusive license to manufacture, market and distribute the product for markets to be agreed between the two parties.
“Matsumoto Trading is always seeking ways of improving the products that we offer to our clients and we are very pleased to enter into this agreement with Gordagen to access their innovative technology platform, MELT3™, and their product development expertise,” commented Mr. Tokufumi Tanaka, Executive Director (Head) of Sales Department (Board member), Matsumoto Trading Co., Ltd.
Matsumoto Trading Co, Ltd. is a private company, which was founded by the Matsumoto family in 1663. Over the last three centuries, it has grown into an established and well-respected player in the supply of high value-added cosmetic ingredients. Matsumoto also undertakes extensive work in formulation research.
“We are delighted to collaborate with such a reputable strategic partner in a new market for our MELT3™ platform,” commented Dr Glenn Tong, Managing Director and CEO, Gordagen Pharmaceuticals Pty Ltd.
“This collaboration will show the diversity of our platform and the opportunity for product extensions. We are delighted to build our relationships and understanding of the Japanese market, which we see as a key market for our nutraceutical products.”
Gordagen is currently developing tocotrienol-based nutraceuticals backed by clinically regulated research, for the muscle soreness, exercise endurance and heart health markets. It has a diverse prescription pharmaceutical portfolio, covering core indications of cardiovascular disease, diabetes and hypertension. The Company’s proprietary and patented MELT3™ melt-then-swallow technology is combined with a formulation of tocotrienols to enable improved bioavailability.