Navamedic signs agreement with Smartfish

(Oslo, 25 August 2010) Navamedic ASA announces a cooperation agreement with Smartfish AS. The agreement gives Vitaflo Scandinavia, a Navamedic subsidiary, the exclusive right to distribute Smartfish's products within the area of Medical Nutrition in Sweden, Denmark and Finland.

The cooperation agreement between Smartfish AS and Navamedic ASA strenghtens the latter's position within the field of Medical Nutrition. As part of the agreement, Vitaflo Scandinavia will hold the exclusive rights to the marketing and selling of a selection of nutritious drinks to pharmacies and other points of sale in Sweden, Denmark and Finland. Six products are covered in the agreement.

"The market for nutraceutical drinks is growing rapidly all over the world. The agreement with Smartfish is therefore a valuable addition to Vitaflo Scandinavia's current selection of medical nutritious products, currently sold across the Nordic countries," said Olof Milveden, CEO of Navamedic ASA.   

Smartfish AS is a Norwegian biotech company, developing fluid nutritious solutions with fresh (non-oxidised) marine omega 3. Smartfish proprietary emulsions have a potent content developed to improve medical health and cell functionalities as well as treat underlying decease mechanisms. The proprietary emulsions are also used in juice-based drinks.

Navamedic has high growth ambitions and this agreement is one of several the company has entered into during the last months. Earlier this year, the Company signed an exclusive agreement with the South African pharmaceutical company Aspen Healthcare, one of the world's largest producers of generic products. As part of the deal, Navamedic will be selling and marketing Aspen's products in the Nordic region and the Benelux countries.

For further information:
Olof Milveden, CEO Navamedic ASA
Phone +46 31 335 11 90 or mobile + 46 733 463736

Navamedic ASA is a fast-growing speciality pharma company with high growth ambitions. Navamedic markets a portfolio of more than 45 products from more than 20 producers in Sweden, Denmark, Finland, Norway and Holland.
The company is constantly seeking products to complement the existing portfolio within selected knowledge areas.
 Navamedic ASA has been listed on the Oslo Børs (Oslo stock exchange) since 31 March, 2006.  
The group includes Navamedic ASA and the subsidiary Vitaflo Scandinavia AB (Vitaflo). The group's head office is at Lysaker outside Oslo, Norway.

 Vitaflo was established in 1999 and became part of the Navamedic group in October 2007. Vitaflo is a speciality pharma company with focus on acquiring and/or in-licensing of products within selected knowledge areas. Vitaflo markets its products directly in Sweden, Denmark, Norway, Finland and Holland, and exports products outside these markets. Vitaflo currently markets more than 40 products and has several products under registration. The product portfolio consists of licensed products, original pharmaceuticals and generic products. 

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)