MIGDAL HA'EMEQ, Israel and ESBJERG, Denmark, Dec. 4, 2013 (GLOBE NEWSWIRE) -- Enzymotec Ltd. (Nasdaq:ENZY), a developer, manufacturer and marketer of innovative bio-functional lipid ingredients, and Polar Omega A/S, a Danish company specializing in the production of marine phospholipids from sustainable fish sources, announced today that they have signed a joint venture (JV) agreement for the commercialization of Omega PC™, a new premium fish based omega-3 product.
Omega PC™ is a wild fish cold extract, containing omega-3 fatty acids bound to phospholipids (PL) and triglycerides (TG), to better preserve the natural nutrients found in fish and enhance their broad impact on general health.
Under the agreement, Enzymotec will be responsible for global sales and marketing, research and development, and for the intellectual property regarding Omega PC™. Polar Omega will be responsible for supply chain, including sourcing of raw materials and manufacturing Omega PC™.
"We are very pleased to join our scientific and intellectual forces with Polar Omega's strength in supply chain management and manufacturing, by establishing a strategic partnership between two significant players in the global omega-3 market from Israel and Denmark. This will take us one step further towards creating a new gold standard for fish oil," said Dr. Ariel Katz, President and Chief Executive Officer of Enzymotec Ltd. "The existing omega-3 market suffers from increased commoditization and lack of innovation, Omega PC™ is an innovative product in the omega-3 category that brings new benefits to the consumer."
"Enzymotec, with 15 years of experience in developing, manufacturing and marketing clinically-validated, bio-functional, lipid-based compounds, and Polar Omega, with a state-of-the-art-production facility and access to some of the highest quality raw material, positions this joint venture to redefine the omega-3 market. We are proud to join with Enzymotec as our partner and look forward to many years of fruitful collaboration," said Mr. Nils Christian Jensen Chief Executive Officer of Polar Omega A/S.
About Polar Omega A/S
Located at the harbor in Esbjerg on the west coast of Denmark, Polar Omega A/S is a Danish company specialized in production of marine phospholipids from sustainable fish sources. Polar Omega A/S has long experience with the production of fish oil and the development of high quality products. Triple Fish Holding A/S is the sole shareholder of Polar Omega A/S and a 50% shareholder in TripleNine Group A/S.
About Enzymotec Ltd.
Enzymotec Ltd. is a leading global supplier of specialty lipid-based products and solutions. The Company develops, manufactures and markets innovative bio-functional lipid ingredients, as well as final products, based on sophisticated processes and technologies. For more information, visit www.enzymotec.com.
Forward-Looking Statement
This release may contain forward-looking statements, which express the current beliefs and expectations of Enzymotec's management. 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. Important factors that could cause or contribute to such differences the following risks: a high proportion of the sales of our InFat product is sold to end users by a single company in China; we rely on our Swedish joint venture partner to manufacture InFat, and certain matters related to the joint venture are or, based on communications from our joint venture partner, are the subject of disagreement; our gross profits may be adversely affected if we are only able to obtain lower quality krill meal; our ability to obtain krill may be affected by conservation regulation or initiatives; we are dependent on a single facility that houses the majority of our operations; we may not be able to expand our production or processing capabilities or satisfy growing demand; our product development cycle is lengthy and uncertain, and our development or commercialization efforts for our products may be unsuccessful; we are subject to significant and increasing government regulations regarding the sale and marketing of our products; we may not be able to protect our proprietary technology or prevent its unauthorized use by third parties; we are currently subject to litigation, and in the future may become subject to additional litigation, regarding intellectual property rights; and other factors discussed under the heading "Risk Factors" in Enzymotec's final prospectus for its initial public offering filed with the Securities and Exchange Commission on September 30, 2013. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and Enzymotec undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.