NextFerm Technologies Obtains US Regulatory Marketing Approval for Astaferm® Astaxanthin Antioxidant, in Oil for Soft-Gels
NextFerm Technologies Ltd.
NextFerm Technologies (TASE:NXFR), a food-tech company developing ProteVin™, a vegan, yeast-based, non-GMO protein alternative and other innovative yeast-based nutrients, today announced receipt of regulatory marketing approval (Self-GRAS) for Astaferm®, its innovative fermented astaxanthin antioxidant in the form of Oil for Soft-Gels, in the US. Astaferm® is already sold in the US and Canada in the form of Gummies and powder by well-established Brands in North America. NextFerm expects initial Purchase orders for the oil during 2021. NextFerm currently prepares to expand the marketing of Astaferm® for additional indications such as immune system support, as well as expanding into additional serving forms, such as water-dispersible powder for food and beverages. Boaz Noy, Chief Executive Officer of NextFerm, said, “ Soft-Gels is the most popular form of consumption of Astaxanthin. This marketing approval allows NextFerm to expand its value proposition in the market, while increasing market awareness and offer fermented Astaxanthin in the form of oil with a competitive price, in addition to Astaxanthin in Gummies. we believe it will contribute to revenues growth in the coming quarters.” About NextFerm Technologies NextFerm Technologies, traded on the Tel Aviv Stock Exchange (TASE:NXFR) is a food-tech company engaged in the research, development, manufacturing and marketing of innovative, functional and vegan yeast-derived, non-GMO protein alternatives for various applications in the food and food supplement markets and the growing market for animal-derived protein alternatives. NextFerm's flagship product is ProteVin™, a vegan, yeast-derived protein alternative with nutritional value that is similar to animal-derived protein and a neutral flavor, with no aftertastes that are typical of plant-based protein. ProteVin™ is designed for a variety of categories in the alternative protein market, which is estimated at $13 billion, with an annual growth rate of 10%, including milk and dairy substitutes, meat substitutes and additional categories such as infant nutrition, adult nutrition, and sports nutrition. NextFerm is gearing up for commercialization of the product in the US in 2022. Another product currently being sold is Astaferm®, an innovative astaxanthin-based antioxidant derived from yeast that has been sold in the US since the end of 2020 through well-established and leading brands in the food supplement market in the US. In July 2021, the Company received Regulatory Marketing Approval for Astaferm® in Canada. The company has additional products which have been licensed to Lallemand, a global giant focused on yeast. For more information, visit the NextFerm website at: www.nextferm.com Legal Notice Regarding Forward-Looking Statements This announcement also includes forecasts, projections, assessments, estimates and other information which refer to future events and matters, the realization of which is uncertain and not exclusively under the Company’s control (forward-looking information). The main facts and data used to support this information are facts and data regarding the current position of the Company and its businesses (including the scope of sales and levels of profitability, manpower, commercial engagements and more), facts and data regarding the current global position of the Company’s operating segments (including industry-specific financial developments, environmental regulatory developments, the competitive environment, technological developments, the reinsurance market and more), and macro-economic facts and data (including the economic situation both in Israel and around the world, yields in the capital markets, social and state developments and more), all as known by the Company when publishing this announcement. The forward-looking information included above in this announcement is significantly based upon, in addition to the existing information held by the Company, on the Company’s current assessments and expectations of future developments vis-a-vis each one of the aforementioned parameters, and the interconnectedness of each one of these developments. The Company has no certainty that its forecasts and assessments will indeed eventuate, and the Company’s operating results may be materially different than the results assessed or implicit based on that set forth above, inter alia, as a result of a change in any of the aforementioned factors. Contact Details Nextferm Technologies Ltd. Yossi Ohana - Chief Financial Officer +972 54-771-5893 email@example.com Investor and Media contact Meirav Gomeh-Bauer +972 54-476-4979 firstname.lastname@example.org Company Website https://www.nextferm.com/
September 02, 2021 02:29 PM Eastern Daylight Time