New Zealand (Commonwealth Union)_ New Zealand Coastal Seafoods and Ingredients Plus have signed a non-binding Memorandum of Understanding (MoU). This MoU represents a significant advancement in the company’s continuous R&D and product development strategy, as well as its Asia-Pacific distribution growth. As part of the MOU, the Company and Ingredients Plus will collaborate on the development and marketing of a unique clinically-proven collagen product made from NZCS’s premium ling maw.
The agreement comprises a co-development strategy for the product that includes, but is not limited to, clinical trials, cost-sharing, product price, marketing, IP, exclusivity and secrecy. Both sides will collaborate with RDC Clinical, a premier clinical research organization in Brisbane, to design a trial framework that creates the most solid data supporting the proposed collagen product’s use-case. As developments occur, more updates on the proposed clinical study will be provided. The planned clinical trial endeavor is a result of NZCS’s recent success in marketing a high-quality marine collagen powder, after the creation of a more effective and less expensive method for collagen extraction from ling maw.
Ingredients Plus is a major and independent supplier that services customers across Australasia and South-East Asia, with a strong market presence in the area. The organization covers over twenty international manufacturers and thousands of items, specialized in cosmetics/personal care, health, medicines, and nutrition. Once production capacity has been certified, exclusive rights between the parties will be discussed in a separate supply deal. The output target mentioned in the MoU is 1,400 kg for the first year.
Andrew Peti, CEO of New Zealand Coastal Seafoods, expressed delight over the partnership. “We are pleased to have secured this MoU with Ingredients Plus, which sets out the first step in our ongoing R&D and product development strategy, as well as a framework for the joint development of a leading new collagen product derived from ling maw via a clinical trial pathway,” he said. “In the development of our nutraceutical suite, we have identified a major market opportunity for a clinically-backed collagen product in the health and beauty sector, which more broadly continues to benefit from positive long-term supply trends.”
