Evonik Industries and MedPalett, a 100 percent owned affiliate of the Norwegian firm Biolink Group AS, have signed a distribution agreement, which will see Evonik take on the distribution of MP865®, a nutritional supplement containing anthocyanins which have a range of proven health benefits. Evonik will have exclusive distribution rights for the product in the USA, Canada, Brazil, China, Japan, Korea, Australia, New Zealand, South Africa, and South Asia, and non-exclusive distribution rights in the United Kingdom. Rights may be extended to further countries in the future.
MP865® is a powdered berry extract made from Scandinavian bilberries and black currants. Thanks to its high anthocyanin content and special composition, the product has a natural antioxidant effect. In many international studies it was shown that this proprietary berry extract can help strengthen the immune system, improve heart health, strengthens muscles and joints and help maintain a healthy level of cholesterol. MP865® has been on the Scandinavian market as an active ingredient of the nutraceutical product Medox® since 2000. In 2007 the product Medox® was introduced to the US market.
MedPalett is specialized in nutraceutical products based on anthocyanins, defined as food, but possessing clinical documented and published prophylactic and therapeutic properties. The company has developed and manufactures the anthocyanin ingredient MP865® and the finished nutraceutical product Medox® based on this ingredient. MedPalett expects that internationalization of the ingredient will play an increasing importance in its strong business growth within the Life Science segment.
The product expands the portfolio of the Pharma & Food Ingredients Product Line of Evonik, which was established last year. High-quality advanced food ingredients are expected to play a central role in the future, in addition to the established amino acids and amino acid derivatives for pharmaceutical products, medical nutrition and cell cultures.
Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Profitable growth and a sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative process and integrated technology platforms.
Evonik is active in over 100 countries around the world. In fiscal 2013 more than 33,500 employees generated sales of around €12.7 billion and an operating profit (adjusted EBITDA) of about €2.0 billion. R&D expenditures in 2013 were €394 million.
About Biolink Group
Biolink Group is a Norwegian biotechnology company established in 1998. The group is a world leader in R&D on anthocyanins applied in Life Science.
Biolink specializes in nutraceutical products providing health benefits including disease prevention and treatment of disease. The Biolink daughter company Medpalett has developed an anthocyanin ingredient from blueberries and black currants named MP865©. Medox®, based on this ingredient, is a nutraceutical developed, produced and sold in Norway by Medpalett.
Medpalett has its R&D laboratories and its patented high tech manufacturing process in Sandnes, Norway. Revenue in Norway was NOK 67 million (2014) with an operating profit before tax of NOK 26 million (EBITDA NOK 27.5 million).
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.