Licence Agreement with Allied Bakeries
16.01.2004 - Nutri Pharma ASA (OSE: NUT) has entered into licence agreement with Allied Bakeries - the leading bread manufacturer in the UK....
Oslo, January 16, 2004
Nutri Pharma ASA (OSE: NUT) has entered into licence agreement with Allied Bakeries - the leading bread manufacturer in the UK.
Nutri Pharma has entered into a 5 year licence agreement with Allied Bakeries, the leading bread manufacturer in the UK, for the use of Abacor® in its Burgen bread brand. Scheduled for late January 2004, the launch will include a cholesterol-lowering bread based on Nutri Pharma`s patented technology. While the long term royalty potential for Nutri Pharma is difficult to estimate, the short term revenue impact will be limited.
This Agreement with Allied Bakeries is the result of several years of product development work whereby Allied Bakeries and Nutri Pharma have worked together to solve taste, process and technological issues related to Abacor® in bread. These developments have led to a broadening of the Nutri Pharma patent portfolio in this area.
For further information please contact:
Eirik Uboe, CEO +47 23310880 or +44 7766 051466
Allied Bakeries (www.alliedbakeries.co.uk) is market leader in the UK bread market, with approximately 1/3 share and brands which include Kingsmill, Allinson and Sunblest. Owned by the publicly traded Associated British Foods (www.abf.co.uk), it is part of one of Europe`s largest food groups. ABF has sales of approximately £5 billion, over 35,000 employees, and brands such as Silver Spoon, Twinings, Ryvita, Mazola and Ovaltine.
Nutri Pharma (www.nutripharma.com) is one of the leaders in soy technology for the treatment and prevention of lifestyle-related diseases. Through 20 years
of research, Nutri Pharma has developed a range of patented technologies based on specialised soy ingredients and the process
technologies required to incorporate Abacor® into various food products. Abacor®, a combination of isolated soy protein, soy
fibre and soy phospholipids, has been shown, in a recent placebo controlled study, to be more than twice as effective lowering
cholesterol compared to the best commercial soy protein.