BERGEN, Norway—Aqua Bio Technology ASA (ABT), a marine biotechnology and ingredient company, signed two major supply and development agreements. The first agreement is with Bioforskning AS to supply ABT’s patented bioactive ingredient Zonase X™, an ingredient with origins from salmon hatching fluid for use in Bioforskning’s Skin Science professional skincare line. ABT has also secured a major supply and development deal with a global market leader in the health care sector.
Biofoskning’s Skin Science is an exclusive skincare line sold in the Scandinavian professional skincare market. Bioforskning AS is currently preparing a sales expansion of their Skin Science line to several major European markets during the second half of 2010, in addition to developing new lines of products incorporating ingredients such as ABT’s Zonase X, which will be launched during the second half of 2010 and first half 2011.
ABT’s supply and development agreement with the global health care company, who does not wish to be disclosed at this time for strategic reasons, involves development of new products based on certain components contained in ABT’s patented Zonase technology, including Zonase X. The agreement represents a breakthrough for ABT’s new ingredient technology and has significant commercial potential for the company, as it comprises development of products outside of the original application areas of Zonase (which include exfoliation, moisturization and rejuvenation of skin), proving the versatility of the Zonase X technology. A patent application has been filed securing both parties’ common commercial rights within the new product area.