Eevia Health Plc engages with a global market leader to evaluate collaboration on the launch of a novel dietary eye-health ingredient

Eevia Health Plc (”Eevia” or ”The Company”) is exchanging confidential information with a global market leader in eye health regarding a novel ingredient Eevia developed over the last 4 years.

The counterpart is a global market leader in eye health products with EUR 4.5 billion annual turnover and a global market reach. The purpose is to evaluate collaboration on a market launch for an oral prophylactic for healthy people ‘at risk’ of developing AMD[1]. The parties will also consider an application to slow the progression for people already diagnosed with AMD.

According to WHO[2], 1.3 billion people have a vision impairment. AMD is the leading cause of blindness in the elderly population. Over 25% of Europeans over 60 are diagnosed with AMD and 34 million people in EU have AMD. Absent effective treatment, that is expected to double by 2050 to 68 million people.

Eevia extracts the novel polyphenol compound from upcycled forest industry sidestreams, with five successfull pilot-scale batches completed since 2020. The potential to block or slow the development of AMD has been demonstrated in human RPE[3] cells and AMD mice models. The extract induces autophagy and other cytoprotective responses in retinal tissue cells. Regular dietary intake significantly improved retinal function in electroretinographic measurements and increased concentration of endogenous cytoprotective enzymes. Eevia’s product induces multiple endogenous cellular mechanisms that maintain cellular homeostasis in retinal tissues, which typically is compromised in AMD patients. 

An in-vitro study Eevia conducted in 2023 in human primary cells showed statistically significant activity in at least three relevant biomarkers for AMD and other ophthalmic degenerative conditions. A launch in 2025 would tap into a EUR 1 billion business opportunity. Due to aging populations, the EUR 3.2 billion AMD supplement market is predicted to grow at 7–9% CAGR for the next 30 years.

“This opportunity fits our strategy to build the business on our basic ingredients, while we develop proprietary novel prophylactic nutritional solutions addressing significant global health problems," says Erik Eide, Eevia's Commercial Director.

For further information, please contact:

Stein Ulve, CEO, Eevia Health Plc                          

Email: stein.ulve@eeviahealth.com  or investor@eeviahealth.com                     

Telephone: +358 400 22 5967                         

This disclosure contains information that EEVIA HEALTH PLC is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on February 9, 2024.

INFORMATION ABOUT EEVIA HEALTH PLC

Eevia Health Plc, founded in March 2017, addresses significant health problems with bioactive compounds extracted from plant materials. The materials are primarily wild harvested from the pristine Finnish and Swedish forests near or above the Arctic Circle. The extracts are sold B2B as ingredients to dietary supplements and food brands globally. These global brands utilize the ingredients in their consumer product formulas.

Eevia Health is a manufacturer of 100% organically certified plant extracts. Although a significant product, Elderberry extract, is made from cultivated berries, most of Eevia's other raw materials, such as bilberry, lingonberry, Chaga mushroom, and pine bark, are wild-harvested sustainably.

Eevia Health operates a modern green-chemistry production facility in Finland. Manufacturing natural ingredients near the raw material harvest areas, Eevia offers a short value chain with an environmentally friendly carbon footprint, competitive pricing, and extreme transparency. Eevia listed its shares at the Spotlight Stock Market in Sweden in June 2021, with the short name (ticker) EEVIA.

To learn more, please visit  www.eeviahealth.com or follow Eevia Health on LinkedIn@EeviaHealth.