STOCKHOLM, June 19, 2019 /PRNewswire/ -- Enzymatica's subsidiary Zymetech has entered into an agreement with the German company Maren Cosmetics for delivery of an enzyme formulation based on Enzymatica's patented barrier technology, which will be used in Maren's skin care products. Maren develops, manufactures, markets and sells cosmetic skincare products under its own brands in EU and rest of the world. The value of the agreement amounts to SEK 120 million1 for a three year period. For the first 12 months the order value amounts to about SEK 15 million, whereof SEK 3.5-5 million is estimated to occur during 2019. During the second year the order value is estimated to SEK 34 million, and for the third year to SEK 71 million.
"The agreement with Maren demonstrates that our barrier technology not only works when applied to the mucous membranes of the mouth, but also in other applications. The agreement will generate income streams which provide further opportunities to continue developing products for the common cold and other upper respiratory infections, areas that will continue to be our main business focus, says Fredrik Lindberg, CEO of Enzymatica.
Maren AG is a German company that develops and sells skin care products based on enzyme technology. The company, based in Munich, sells their products through a network of more than 100 sales agents.
The information in this press release is information that Enzymatica is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 11:00 CET on June 19, 2019.
1) The value of the agreement is calculated with a euro rate of SEK 10.
For more information please contact:
CEO Enzymatica AB
Tel: +46 (0)708-86 53 70
Head of Corporate Communications, Enzymatica AB
Tel: +46 (0)701-88 50 21
About Enzymatica AB
Enzymatica AB is a Swedish life science company that develops and sells medical devices for infection-related diseases. The products are based on a barrier technology that includes marine enzymes. The company's first product is ColdZyme®, which can prevent colds and reduce the duration of disease. The product has been launched in about ten markets. The strategy is to continue to grow by strengthening the company's position in existing markets and expanding into new geographic markets through established partners. The company has its headquarters in Lund and is listed on Nasdaq First North. For more information, visit: www.enzymatica.com
Enzymatica's Certified Adviser is Erik Penser Bank.
Tel: +46 (0)8-463 83 00
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SOURCE Enzymatica AB