Highlights

 

Share issue. A share issue of NOK 10 million was carried out October 13th 2009, of which NOK 5 million was guaranteed. Approval was given in an extraordinary general meeting November 5th 2009.

 

Sales development: Increased revenue during 3 first quarters of 2009, sales reaching NOK 18.6 million compared to NOK 15.5 million during same period 2008.  Significantly increased interest shown in the market as a result of the regulatory approvals in Europe and positive R&D results. The company has created a solid foundation for negotiation agreements with global and regional operators. These agreements will represent a basis for a significant increase in future sales.

 

Development of the food market: In February, NattoPharma signed a strategic co-operation agreement with Danisco regarding exclusive global sales rights for the food market. Danisco has as planned launched MenaQ7 in September, and will intensify its sales and marketing activities of MenaQ7. The cooperation between the companies is very good and there are reasons to believe that one will find MenaQ7 as an additive in several types of food in the years to come.  However, the Company does not expect to see a significant sales volume in this segment before 2011.

 

Organisational development: During this quarter, the Company has made major changes in the organisation, by hiring Morten Sundstø as CEO, Dr. Leon Schurgers as new VP R&D and Dr. Elke Theuwissen as Regulatory and QA Manager.

 

Cost-cuts: It is the aim of the Company to achieve a positive result as soon as possible. The extensive cost-cuts have shown results in the 3rd quarter, but full effect of the cuts will first be shown as from the 1st quarter 2010.

 

For further information, please contact:

Morten Sundstø, Phone no. +47 950 61 860

President and CEO