aXichem strengthens its position in the European market in signing agreement with Uriach, at a yearly value of 400 thousand Euro, for melatonin formulations for sleeping aid
aXichem AB (publ), a pioneer in the development and marketing of natural analogue industrial chemicals, is delighted to announce the signing of an exclusive agreement with Uriach, one of Europe's oldest and steadily growing pharmaceutical companies, regarding aXivite in the sleeping aid category of the dietary supplement market. Under the Supply and Research Agreement Uriach is granted exclusivity in a melatonin formulation with aXivite in the territories of Spain, Portugal, Germany, Austria, and Romania. To achieve this exclusivity Uriach is committed to a yearly minimum purchase of aXivite of 400,000 Euro. Uriach will also fund a new the clinical trial, and the results of this trial will be jointly owned by Uriach and aXichem. Each party will have the right to use and exploit the results.
"This contract represents a major breakthrough for aXichem and for aXivite in Europe. We are thrilled to partner with Uriach, a company that is not just a European benchmark in consumer healthcare, but also a global player with a robust growth trajectory. This partnership positions us for substantial financial upside.", says Torsten Helsing, CEO of aXichem.
Uriach's commitment to innovation and growth in the Consumer Healthcare sector further underscores the value of this partnership. The company has recorded impressive organic growth of its brands, including Aquilea®, the brand that will use aXivite as a unique ingredient in a melatonin formulation.
About Uriach
Uriach is a prominent player in the healthcare market with a strong international presence. The company achieved a turnover of 228 million euros in 2019, a 16% increase from the previous year, and has maintained double-digit growth for seven consecutive years. Uriach has a direct presence through its own subsidiaries in Spain, Italy, and Portugal, and uses joint-venture agreements with local companies in Greece and Romania to expand its reach. Its products are sold in over 70 countries, further demonstrating its substantial market influence.
About phenylcapsaicin and aXivite
aXichem's proprietary molecule, phenylcapsaicin, combines the naturally occurring phenyl group with capsaicin, connected by a triple bond. The result is an innovative natural analog capsaicin with high purity, which in several studies has been shown to have the same health-promoting properties, as well as some unique benefits, as natural capcaisin. Phenylcapsaicin is approved under Novel Food in the EU and GRAS Food in the USA and is marketed for dietary supplements and functional foods under the brand name aXivite.
This information is such that aXichem AB is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the care of the contact person below, for publication on 27 June 2023, at 13:30 CET.
Torsten Helsing, CEO, aXichem, Ph+46 70 686 33 55. Email: torsten.helsing@axichem.se
About aXichem
aXichem develops, patents and markets natural analogue industrial chemicals, i.e., synthetically produced substances that have similar and comparable properties to natural substances. The company's first product is phenylcapsaicin, which the company commercializes under two brands, aXiphen® and aXivite®, as an ingredient in animal feed and dietary supplements, respectively. The business is divided into three market areas with different applications for phenylcapsaicin: as an ingredient in feed for poultry, such as chicken and turkey; as an ingredient in food supplements for gut health, weight control and sports and exercise; and as an ingredient in food supplements for the bio-enhancement of curcumin and melatonin. aXichem is listed on the Nasdaq First North Growth Market. Västra Hamnen Corporate Finance AB is Certified Adviser. More information is available at www.axichem.com.