ENZYMOTEC LTD. MIGDAL HA'EMEQ, Israel, Oct. 28, 2015 (GLOBE NEWSWIRE) -- Enzymotec Ltd., (Nasdaq:ENZY), a developer, manufacturer and marketer of innovative bio-active lipid based nutritional ingredients and medical foods, announced today it was granted a new patent by the United States Patent and Trademark Office for Vayacog®, a proprietary prescription medical food for the dietary management of lipid imbalances associated with early memory impairment.
The granted patent covers a method of improving a condition in the elderly suffering from specified cognitive disorders using Vayacog®. The disorders covered by the patent include pre-Alzheimer's disease and pre-dementia syndrome.
Vayacog® is a unique lipid composition essential for the management of key biochemical modifications underlying losses in brain function. There is currently a 24-month, multi-center clinical trial being conducted to evaluate its long-term efficacy in patients with Mild Cognitive Impairment ("MCI"). Vayacog® has been shown to be safe and efficacious in earlier clinical trials in non-demented subjects with memory complaints.
Rob Crim, President of VAYA Pharma, a division of Enzymotec, commented, "We continue to strengthen our intellectual property portfolio with the grant of this patent. While we work toward statistical data to make Vayacog® a standard protocol for the management of MCI, this new patent reinforces our competitive advantage. With the support of our IP, we remain focused on trial data to illustrate the effectiveness of our marketed products."
About VAYA Pharma
VAYA Pharma is a specialty pharmaceutical division of Enzymotec Ltd. dedicated to the discovery, development, manufacture and marketing of innovative proprietary clinically tested lipid-based compositions familiar to the human body for addressing disorders that are impacted by lipid imbalances. VAYA Pharma's medical food portfolio addresses three therapeutic segments: ADHD (Vayarin®), Early Memory Impairment (Vayacog®) and Hypertriglyceridemia (Vayarol®). VAYA Pharma products are available in the US only by prescription under the supervision of a physician. For more information, visit www.vayapharma.com.
About Enzymotec Ltd.
Enzymotec is a leading global supplier of specialty lipid-based products and solutions. The Company develops, manufactures and markets innovative bio-active lipid ingredients, as well as final products, based on sophisticated processes and technologies. For more information, visit www.enzymotec.com.
Forward Looking Statements
This release may contain forward-looking statements, which express the current beliefs and expectations of Company management. Such statements involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include the following risks: A high proportion of the sales of the InFat product is sold to end users in China and to a single company; Growth in the Chinese economy has moderated and this slowdown and related volatility could adversely impact demand in China for our products; The demand for products based on Omega-3 and in particular, premium products, such as krill oil, has declined and may continue to decline following a significant increase in manufacturing capacity by manufacturers of these products, resulting in intense competition and price pressure; Our offering of products as "medical foods" in the United States may be challenged by regulatory authorities; We rely on our Swedish joint venture partner to manufacture InFat and certain matters related to the joint venture are the subject of disagreement in an arbitration proceeding; We are subject to a degree of customer concentration and our customers do not enter into long-term purchase commitments with us; We depend on third parties to obtain raw materials, in particular krill, necessary for the production of our products; We are dependent on a single facility that houses the majority of our operations; We may have to pay royalties with respect to sales of our krill oil products in the United States or Australia and any infringement of intellectual property of others could also require us to pay royalties; Potential future acquisitions of companies or technologies may distract our management, may disrupt our business and may not yield the returns expected; We anticipate that the markets in which we participate will become more competitive and we may be unable to compete effectively; We may not be able to successfully expand our production or processing capabilities; Our ability to obtain krill may be affected by conservation regulation or initiatives; Our product development cycle is lengthy and uncertain, and our development or commercialization efforts for our products may be unsuccessful; and other factors discussed under the heading "Risk Factors" in the Company's Form 20-F filed with the Securities and Exchange Commission on March 2, 2015. Forward-looking statements in this release are made pursuant to the safe harbor provisions contained in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: The Ruth Group
Tram Bui / Lee Roth
646-536-7035 / 7012
tbui@theruthgroup.com
lroth@theruthgroup.com
