Last week the Draper, UT-based company acquired the exclusive North American sales and distribution rights tothe Nutriband delivery system from its Irish manufacturer. Supplements based on the transdermal patch system currently available in Europe.
"The Nutriband delivery system is cutting-edge science that allows delivery of vitamins, minerals, amino acids, and other health supplements safely and effectively through an innovative transdermal skin patch, without the need to swallow tablets, capsules or powders," said Nutranomics' CEO Dr. Tracy K. Gibbs. "We intend to utilize our substantial new product development experience to build out a much wider product line based on the Nutriband technology, including Nutranomics transdermal patches designed to improve sleep, manage pain, boost energy, and control weight."
Nutriband transdermal patches are designed on the principle that many nutrients can be absorbed not only orally, but through the skin as well. The medical industry has utilized this principle for many years to deliver angina medication, hormone replacement, and nicotine therapy among others. The delivery of nutrients directly through the skin bypasses the harsh conditions of the stomach before being absorbed into the blood stream. Nutriband has successfully applied this method to various vitamins, minerals, amino acids, and other health supplements. Nutriband supplement patches have the added benefit that nutrients are absorbed over a sustained period of time (up to 6 hours) for optimal efficacy and do not contain any of the additives or preservatives frequently found in nutritional supplements.
In addition to the delivery system licencing deal, Nutranomics recently concluded a distribution agreement in Bangladesh, and announced significant product orders in Japan, where sales have increased 44% year-over-year, according to the company. With the additional of Bangladesh, the company now does business in eight countries, according to its website. The company said it is also in discussion with Polish company Novascon Pharmaceuticals Sp. z o.o., a dietary supplement and pharmaceutical company based in Warsaw with an aim to expand distribution into Eastern Europe.
The company has also announced the planned launch of a collagen-based anti-aging liquid supplement in North American and Asian markets in early 2014.
Financial reporting for the company is complicated by the fact that it only recently went public. Founded in 1995, Nutranomics manufactures a range of condition-specific supplements and also distributes an enzyme system for animal feed. The company went public in Septemberwhen it acquired Buka Ventures via a reverse merger. Buka Ventures was a speculative mining venture with little in the way of tangible assets.