Canadian firms ally to develop plant extracts
While neither company was able to give further detail about the deal and the kind of plant extracts involved, Biopharmacopae said it will continue to work with other partners in the health area.
Its ingredients are already found in anti-skin aging, weight management, topical inflammation, obesity, gum and viral relief products.
Biopharmacopae said it had secured the investment from Avrio to help it commercialize and further develop nutraceutical and cosmeceutical ingredients and end products.
The platforms for both categories have been developed using Biopharmacopae’s patented eXcelerate process, which it says fast-tracks the process of developing bioactive extracts and a sustainable technology platform.
“The company is well positioned to be a provider of a large suite of novel natural ingredients and end products to its strategic partners in the natural personal care and nutraceutical industries,” said Aki Georgracacos, partner in Avrio Ventures.
"The ability of Biopharmacopae to develop multiple new products from its vast plant library further validates the growth and innovation opportunities available in the sector."
Dr Johane Guay, CEO of Biophamacopae says that it had specifically chosen to partner with Avrio because of its understanding of the food technology, nutraceutical and cosmeceutical categories, and the specific regulatory requirements that govern it.
Going commercial
Citing the main reasons why the company is now eyeing the big step from the research and development stage to commercialization, Guay said:
“There continues to be a growing demand by consumers for nutraceutical and cosmeceutical products that offer scientifically proven health benefits which are of high quality and based from non-chemical, natural ingredients. We offer our partners the innovation and proof of concept that is required to bring novel products to market efficiently.”
A study published at the end of 2006 by Kline & Company found that the global nutricosmetics market was valued at $1bn, a figure the company says is set to double over the next five-year period with Euromonitor claiming it had already grown by 50 per cent between 2002 and 2006.
