Aqua Bio Technology ASA (ABT) has signed a Letter of Intent with Italian cosmetics ingredient distributor Active Box. The aim is to form a partnership, where Active Box will market ABT’s new skin care ingredient Spirulysat® to cosmetics manufacturers in eight European countries.
Spirulysat® is an active, natural ingredient based on the green algae spirulina, containing antioxidants and vitamins, and with documented positive effects on the skin. The ingredient is developed and clinically tested in a collaboration between AlgoSource of France and ABT, and was launched last year. The planned cooperation with Active Box is ABT’s first step in the commercialization of Spirulysat®.
Based in Italy’s fashion and beauty capital Milan, Active Box has an extensive network among European cosmetics manufacturers and enjoys a strong reputation in the industry. Active Box will market Spirulysat® to brand owners in Italy, Switzerland, the Czech Republic, Belarus, Ukraine and the three Baltic countries Lithuania, Latvia and Estonia.
ABT is currently pursuing additional partner opportunities in other territories and expects Spirulysat® to start generating revenues in the second half of 2019.
For further information, please call Espen Kvale, acting CEO, telephone +47 9162 8092.
Aqua Bio Technology (ABT) is developing and commercializing sustainable biotechnology for use in skin care products. ABT’s cosmetics ingredients are highly effective and they provide the cosmetics industry with natural alternatives to traditional ingredients. ABT is also marketing and distributing natural skin care products developed by partners towards consumers and professional users. Aqua Bio Technology is listed on the Axess market of the Oslo Stock Exchange.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act