The company has entered into long-term agreements with world-leading Danisco for distribution of NattoPharma's vitamin K2-product MenaQ7 to the fast-growing fortified food market. Towards the end of 2008, the European Union's food safety authority, EFSA, published a positive opinion for the safe use of menaquinone-7 (MK-7) as a food supplement and fortified food ingredient. With a formal approval by the European Commission later this year, MenaQ7 will have the needed proprietary approvals for the use of menaquinone-7 as a food supplement and an ingredient in a wide range of health and food products.

 

"The cooperation with Danisco is yet another confirmation of NattoPharma being considered a serious and attractive partner for the food and beverage industry," says Thomas Christensen, President and CEO of NattoPharma. - "The market must mature, but Danisco confirms that it sees a potential for MenaQ7 in many types of food and beverage products. We expect the agreement to result in considerable production and distribution on a global basis as early as in 2010."

 

NattoPharma's sales were NOK 3.9 million in the fourth quarter of 2008, up from NOK 2.1 million in the same period in 2007. Sales in 2008 were about NOK 19 million. The sales development was weaker than expected in Europe as well as in the United States, partly due to regulatory approval processes taking longer than anticipated and partly due to the effects of the financial crisis. In addition, it is both time-consuming and resource-demanding to develop knowledge about vitamin K2 and MenaQ7 among professionals and consumers.

 

Christensen says the cooperation with Danisco will create awareness about vitamin K2 and NattoPharma's product MenaQ7 in ways that would not be possible without the assistance and support of an internationally known player in the industry.

 

"While waiting for the EU Commission's formal approval of MenaQ7, we focus on building knowledge and relations as well as establishing additional food supplement distribution agreements in European countries that allow sales of MenaQ7 as a food supplement during the course of the EU approval process. The interest among large players in the food supplement industry is increasing. Going forward, we will explore and prioritize cooperation with companies that have the resources, customer base and market penetration that can allow for high-volume supplies for the food supplement industry in the short term," says Thomas Christensen.

 

NattoPharma continues a number of key research activities to further document the positive effect of vitamin K2 to improve bone health and prevent arterial disease.

 

For further information, please contact

Thomas Christensen, President & CEO

Ph.: +47 922 55 444

 

NattoPharma ASA

Ph.: +47 67 20 02 50

Fax: +47 67 20 02 51