Eevia Health Plc finalizes a key development project and receives grant payment for c. 2,747 KSEK (243 KEUR)
Eevia Health ("Eevia" or "The Company") has finalized a development project for the documentation of bioactivity on its products, which was co-funded by Business Finland. Eevia executed the project in 2023 and filed the final report in February 2024. The report is now approved. Last week, Eevia received the grant payment of c. 2,747 kSEK (243 kEUR) from Business Finland.
A central activity in the project was a broad in vitro screening of Eevia's top extracts on the Eurofins BioMAP phenotyping platform. The successful execution of the study provided Eevia with troves of insightful new research data on its products, with especially promising bioactivity for one ingredient.
A continuation project named "Global Vision" is now planned for the most promising ingredient. Eevia is seeking approximately kEUR 800 in new non-dilutive funding for the continuation project which will enable the product to be marketed to humans.
“We achieved remarkable results on our eye-health ingredient in the Eurofins BioMAP in-vitro assay system employing over 140 biomarkers. The data strengthened the case for possible clinical efficacy in maintaining homeostasis of Retinal Pigment Epithelium cells (RPE cells) in the human eye. This brings us closer to the market launch of a novel and effective pre-treatment for macular degeneration to a EUR 5 billion eye-health segment utilizing Finnish circular raw materials and pharmacology competencies to drive an ophthalmologic health innovation that provides eye health protection, improves patient care outcomes, and reduces costs to the health system,” says Petri Lackman, Eevia’s Chief Technical Officer.
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
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 in 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.