VANCOUVER , Oct. 28, 2019 /CNW/ - ELSE NUTRITION HOLDINGS INC. (TSX-V: BABY, OTCQB: BABYF) ("Else" or the "Company"), a company focused on developing and marketing a real, 100% plant-based alternative to dairy-based baby nutrition, is pleased to announce the following update to shareholders.
- Composition patent granted for Else's formulation in 19 countries, with 47 countries patent-pending.
- Mexico is the latest country to provide a notice of allowance prior to granting the patent ( Sept 2019 ).
- New Zealand is the latest country to grant the patent ( July 2019 ) following the U.S., Japan , Australia , Eurasia, Ukraine , South Africa and Israel .
Else Nutrition holds a worldwide patent portfolio covering its 100% plant-based toddler drink/formula which is scheduled to be launched in 2020, and for its 100% plant-based infant formula, which is scheduled to be launched following FDA approval. Both products provide the infant and/or toddler with 100% plant-based, whole balanced nutrition, without GMOs, antibiotics, hormones and gluten. The products provide nutrition suitable for infant and toddler dietary needs as required under the strict WHO guidelines. Else Nutrition's proprietary formula is all-natural, combining almond and buckwheat, and mimics the nutritional composition values of breast milk.
The patent, valid through 2034, protects a broad range of compositions comprising of almonds in combination with one or more plant-based, non-dairy component for use in the nutrition of an infant and/or toddler. The granted patent claims also cover the use of the composition to supplement the nutrition of other age groups.
The patent was filed in various jurisdictions of interest to Else, with granted status already achieved in 19 countries, including the U.S., Australia , New Zealand , Japan , South Africa , Ukraine , Eurasia countries and Israel . An additional 47 countries have patents pending. In certain countries where patents have already been granted, additional patent applications were filed to cover other target audience demographics and product categories (i.e. supplemental and functional foods).
"We spent over 5 years to develop and perfect our proprietary formulations. The granted patent claims grant us the exclusive rights to produce, use, market and commercialize this variety of formulas and nutritional products for infants, toddlers and kids. The additional patent applications will grant us exclusive rights to expand our protected portfolio to adults and the elderly. The greatest value of our unique formulations stems from the fact that they provide 100% plant-based, all-natural, wholesome balanced nutrition/meal replacement, that contains all nutritional needs of a subject. Further, the formulations are technology agnostic – applicable to and protective of any type of food technology, spanning a diverse range from clinical or functional nutrition, to dairy-based alternatives, baked goods, pastas, and many others," said Hamutal Yitzhak, CEO and Co-Founder of Else Nutrition. She added, "This robust patent portfolio brings significant value and protection to the company, as we continue to innovate our leading-edge clean label solutions for consumers."
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Caution Regarding Forward-Looking Statements
This press release contains statements that, to the extent they are not recitations of historical fact, constitute "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as "will", "plan", "hope to", "intend" or similar expressions. Forward-looking statements in this press release include, but are not limited to, statements with respect to: the Company's commercialization of its products and expected timing, expected go-to-market strategy (including marketing, proposed markets, sales, customer growth and market position), and industry conditions.
Such forward-looking statements reflect current estimates, beliefs and assumptions, which are based on management's perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. No assurance can be given that the foregoing will prove to be correct.
Forward-looking statements made in this press release assume, among others, the successful completion of Else's proposed scale-up for its products, and such statements are intended to apply only to the infant formula market for ages 12 months and above, and having all necessary regulatory approval as required by each target market.
Numerous risks and uncertainties could cause the Company's actual results to differ materially from the estimates, beliefs and assumptions expressed or implied in the forward-looking statements, including, but not limited to: consumer demand for the Company's products, whether the Company's current and future products achieve commercialization, uncertainty regarding material changes in laws and regulations, retention of key personnel, the Company's ability to expand into global markets and competitive developments.
The foregoing list of factors is not exhaustive, and other risks and uncertainties not presently known, or believed to be material, to management Additional information and other factors that could affect the operations or financial results of the Company are set out in the Company's Filing Statement dated May 14, 2019 under the heading "Risk Factors" and may be accessed through the SEDAR website (www.sedar.com).
Readers are cautioned not to place undue reliance on any forward-looking statements, which reflect management's expectations only as of the date of this press release. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE Else Nutrition Holdings Inc.
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