Eevia Health Plc partners up to enter 5-billion-euro eye-health market
Eevia Health Plc (”Eevia” or ”The Company”) received a letter of Intent with a global leader in eye health for a market launch in 2025 of Retinari™, a new game-changing eye-health product. To seek a 100 MEUR market opportunity, Eevia is partnering up with leading scientists to a new Scientific Advisory Board, initiating a safety study, and filing two new patent applications on the product.
Following remarkably positive results of Eevia’s lead development product Retinari™ in a human primary cell study last year, Eevia received a Letter of Intent from a leading eye health company to work towards a commercial agreement for the launch of the product in 2025. The partner has a global reach with EUR 4.5 billion annual turnover.
Retinari™ will target the prevention of Age-related Macular Degeneration (AMD). Globally, 1.3 billion people have vision impairment, costing society EUR 300 billion annually. 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 have AMD in the EU alone.
Earlier mice studies conducted by Prof. Kai Kaarniranta at the University of Eastern Finland have provided evidence for protecting against vision loss employing a unique mice model, the NFE2L2 Knock-Out Mice model. The data are auspicious, showing improved retinal function in electroretinographic measurements, retinal tissue integrity, and increased concentration of endogenous cytoprotective enzymes. The University-team is this summer finalizing a fourth, one year-long, mice study for Eevia. This study is based on a highly regarded mice model, the 5XDF model, also used extensively in Alzheimer's research.
The recent research on Retinari™ show significant activity in three biomarkers for AMD, indicating possible clinical efficacy in maintaining homeostasis of Retinal Pigment Epithelium cells in the human eye. AMD patients typically have compromised homeostasis in retinal tissues. Eevia’s product induces multiple endogenous cellular mechanisms that maintain cellular homeostasis. To enable the market launch, Eevia is initiating a safety study and filing two new patent applications on the product and setting up a Scientific Advisory Board with leading scientist. One of the first advisors to the new board is Dr. Luke Bucci (Innerpath Nutrition) an authority with over 37s experience in the nutraceutical field.
A market launch will tap into a EUR 5 billion market and a significant business opportunity. AMD supplement market is predicted to grow at 7 – 9% CAGR for the next 30 years. Retinari™ stands out as a unique early nutritional prophylactic for “at-risk people”, with a potential application also to patients in the wet stage of the condition. Lowering the frequency at which patients must be administered anti-VEGF therapies (injections to the eye) would be a massive relief for the patients and for the governmental health system (hospitals), which many places are maxed out on the capacity to administrate these injections.
“One step at a time we move towards addressing a significant global health problem. This is a big step with potential for significant business revenue growth and societal impact," 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 June 27, 2024, at 07:58 CET.
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, and these global brands utilize the ingredients in their consumer product formulas.
Eevia Health manufactures 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. In June 2021, Eevia listed its shares on the Spotlight Stock Market in Sweden under the short name (ticker) EEVIA.
To learn more, please visit www.eeviahealth.com or follow Eevia Health on LinkedIn@EeviaHealth.
