Beskrivning
| Land | Norge |
|---|---|
| Lista | Euronext Growth Oslo |
| Sektor | Hälsovård |
| Industri | Bioteknik |
The sale of ROMEGA®️ products in the Chinese market has grown fast the last 3 years and we see significant growth potential. To accelerate the positive business development, Arctic Bioscience and Kotler Investment Ltd. have signed a term sheet to establish a joint venture operation to commonly develop the Chinese and Southeast Asian markets together to truly realize the business potential.
China is the 3rd largest regional Omega-3 market in the world after USA and Europe with a market size of more than USD 10 billion (finished products), where dietary supplements alone is about 10%.
The key terms of the term sheet
- Arctic Bioscience to become minority owner in the China and Southeast Asia sales operation
- Attract growth capital and business partners in Asia to extend the distribution of ROMEGA®️ products in the region
- Strengthen the ROMEGA®️brand in China and Southeast Asia
- Gather all the specific IP for China and Southeast Asian markets under the Joint Venture
"Establishing a joint venture with Kotler to further scale the Chinese market and entering Southeast Asian markets, is a natural next step in the strengthening of our partnership with the Kotler Marketing Group. Kotler Marketing Group is focusing exclusively on Arctic Bioscience products such as ROMEGA®️ Pregnant women, ROMEGA®️ Eye health and ROMEGA®️ Brain. Their approach in China has already proven successful with sales approaching NOK 100 million of finished products in the Chinese market and forecasted to grow strongly in 2025 and onward. By enhancing their business platform further, we see enormous opportunities for our products in China and Southeast Asia", says CEO Christer L. Valderhaug.
Arctic Bioscience delivered a strong close to 30% y/y growth in sales revenues overall in 2024 and see positive prospects of continued strong growth in 2025 and onward. The recently announced financing solution of NOK 30 million is estimated to bring the Company into a positive cash flow position in 2026.