aXichem AB, which develops and markets natural analogue industrial compounds, has signed a supply in research agreement with the leading, innovative active sports nutrition company Iovate Health Sciences international incorporated. (Iovate). SEE nutrition incorporated, a nutraceutical ingredient distributor based in Ann Arbor, brokered the agreement. See nutrition is the exclusive agent for aXichem ingredients in the US and Canadian markets.
ANN ARBOR, Mich., Sep. 15, 2022 /PRNewswire-PRWeb/ -- aXichem AB, which develops and markets natural analogue industrial compounds, has signed a supply in research agreement with the leading, innovative active sports nutrition company Iovate Health Sciences international incorporated. (Iovate). SEE Nutrition Incorporated, a nutraceutical ingredient distributor based in Ann Arbor, brokered the agreement. SEE Nutrition is the exclusive agent for aXichem ingredients in the US and Canadian markets.
Under the terms of the agreement, aXichem and Iovate will collaborate in the areas of research, development, and commercialization of products for weight management containing aXichem's capsaicin analogue ingredient, aXivite.
aXivite will be incorporated into different brands within the Iovate portfolio, including the number one weight management brand in the U.S., which has sold over 100 million units to date. The first Iovate product containing aXivite will be introduced in late 2022. In addition to the supply agreement, the parties agree to co-fund further research on aXivite.
aXivite is distributed exclusively through SEE Nutrition in North America. CEO Elias Chiatalas stated, "We are very excited about working with Iovate and Axichem on this project, bringing this very unique ingredient to North American consumers."
"I am pleased that we have moved our collaboration with Iovate to the next stage and entered into this new and exciting supply and research agreement," says Lucas Altepost, Vice President and Director of Sales and Marketing at aXichem. "Iovate is one of the world leaders weight management supplements. Putting aXivite's excellent characteristics and qualities to work in the hands Iovate's innovative team has proven to be a great experience and I am convinced that we will see commercial results starting 2022 and forward."
In June 2021, aXichem reported the results of a randomized, double-blind, clinical trial of male and female subjects using aXichem's phenylcapsaicin product aXivite. The trial demonstrated that a low dose of aXivite has a significant effect in reducing body fat. Significant results were also observed in specific bio-markers related to general gut health. The study was conducted to outline efficacy on the effects of phenylcapsaicin on weight loss and body composition.
According to marketresearch.com the value of the U.S. weight loss market grew about 24 percent in 2021, to $72.6 billion, after falling during the pandemic in 2020. The market is forecast to grow 3.6 percent this year, to $75 billion.
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About aXichem, AB.
aXichem is an innovative biotechnology company specializing in the development and commercialization of natural analogue ingredients. The company's breakthrough product, aXivite phenylcapsaicin, is a structural analogue of capsaicin with a wide range of applications including feed additives, marine anti-fouling products, dietary supplements and pharmaceuticals. aXichem's is listed on NASDAQ First North under AXIC A. Certified Adviser: Redeye AB [email protected] +46 (0)8 121 576 90. Read more about the company at http://www.axichem.se
About Iovate Health Science International Inc.
Iovate is one of the world's leading suppliers of products for weight management. Founded in 1995 and based in Oakville, Canada, Iovate is a dynamic, leading-edge nutritional company that delivers some of the highest quality, most innovative and effective active nutrition products in the world. Iovate distributes across all major channels of distribution, including food, drug, mass and club, health food stores and online, as well as in more than 130 countries worldwide. Iovate products are available nationwide in the US at GNC, the Vitamin Shoppe, Bodybuilding.com, Walmart, Target, Walgreen's, Sam's Club, Amazon.com and other fine retailers.
Media Contact
Elias Chiatalas, SEE Nutrition Inc., 1 7344921001, [email protected]
SOURCE SEE Nutrition Inc.
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