Ceapro Extends Exclusive International Supply and Distribution Agreement with Leading Global Provider of Active Ingredients, Symrise
25 8월 2023 - 10:05PM
Ceapro Inc. (TSX-V: CZO; OTCQX: CRPOF)
(“Ceapro” or the “Company”), a growth-stage biotechnology
company focused on the development and commercialization of active
ingredients for healthcare and cosmetic industries, today announced
the signing of an amendment to its long-term agreement with
German-based multinational, Symrise AG, for the distribution and
commercialization of Ceapro’s high value active ingredients to
major key international players in the cosmetic market. The
three-year agreement, signed on January 1, 2022, will now extend
until December 31, 2026.
Under the agreement, Symrise is guaranteed to
purchase minimum annual volumes of Ceapro’s high value active
ingredients. Financial terms of the agreement were not
disclosed.
“We are very pleased to extend our supply and
distribution agreement and reaffirm our strong relationship with
longtime partner Symrise. Given the changes and new trends in the
marketplace, this agreement not only provides additional security
for our ongoing cosmeceuticals base business but will also enable
continued development and offering of new products like a new
powder formulation of oat beta glucan on which both organizations
have worked over the last months. Such developments are critical to
maintain leadership positions and navigate through economical
challenges while responding to more demanding customers. We are one
more time delighted for the vote of confidence towards our Company
and especially for the recognition of the quality and uniqueness of
Ceapro's products,” said Gilles Gagnon, President and CEO of
Ceapro.
“Ceapro and Symrise have a long-standing
relationship in product development that has benefitted both
companies over the years,” added Timothy Kenny, Global President
Cosmetic Ingredients, Symrise AG. “We believe this renewed
commitment is an important milestone in our continued collaboration
and this agreement further secures a strong foundation for the
future. We are equally looking forward to making it successful in
creating value.”
About Ceapro Inc.
Ceapro Inc. is a Canadian biotechnology company
involved in the development of proprietary extraction technology
and the application of this technology to the production of
extracts and “active ingredients” from oats and other renewable
plant resources.
Ceapro adds further value to its extracts by
supporting their use in cosmeceutical, nutraceutical and
therapeutics products for humans and animals. The Company has a
broad range of expertise in natural product chemistry,
microbiology, biochemistry, immunology and process engineering.
These skills merge in the fields of active ingredients,
biopharmaceuticals and drug-delivery solutions. For more
information on Ceapro, please visit the Company’s website at
www.ceapro.com.
About Symrise
Symrise is a global supplier of fragrances,
flavors, food, nutrition and cosmetic ingredients. Its clients
include manufacturers of perfumes, cosmetics, food and beverages,
pharmaceuticals and producers of nutritional supplements and pet
food. Headquartered in Holzminden, Germany, the Group is
represented by more than 100 locations in Europe, Africa, the
Middle East, Asia, the United States and Latin America.
www.symrise.com
For more information contact: Jenene
Thomas JTC Team, LLC Investor Relations and Corporate
Communications Advisor T (US): +1 (833) 475-8247 E:
czo@jtcir.com
Issuer:Gilles R. Gagnon, M.Sc., MBAPresident & CEOT:
780-421-4555
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release
Ceapro (TSXV:CZO)
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Ceapro (TSXV:CZO)
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