The company will select between eight to ten companies to participate in their second annual Innovation Day on June 30, 2021. Successful applications will meet virtually with Pharmavite’s executive team and be considered for potential investment and/or partnerships ranging from direct supplier/manufacturer relationships to full scale co-development/commercialization of new products
The company is seeking active ingredients, combination ingredients, diagnostics/digital integrations, and innovative technologies grounded in consumer insights and health needs (not fads) with promising scientific evidence and distinct consumer-benefits related to the following two areas:
1. Mental Wellness
The company is interested in non-CBD solutions that address consumer needs around mood, depression, stress, anxiety, focus, concentration, attention, learning and/or alertness. Opportunities should have a clear regulatory path to commercialization and therefore (CBD products will not be considered).
Speaking with NutraIngredients-USA, Tobe Cohen, Chief Growth Officer, Pharmavite, explained: “This year, we’re really focusing on two areas: One is mental wellness, and that has only been heightened over the last year. You see it in the growth of sleep, but more broadly, what can we in the vitamins and supplements space do to help to promote healthy mental wellness and be resilient to stress?”
2. Supplement Alternatives to OTC
Pharmavite is specifically interested in supplement alternatives to conventional medicine that address consumer needs around allergy, sinus, occasional pain, and/or sleep symptoms.
“We continue to believe and Pharmavite was founded by a pharmacist who believed in proactive wellness versus reactive treatment. We’d love to understand what the start-up community is thinking in that area, where there may be good natural paths to maximizing the body’s ability to defend.”
Cohen will be joined by other senior Pharmavite leaders to share insights on the challenges, discuss how they’re leveraging open innovation, and answer questions about the innovation day on April 13 at 9am PST. For more information and to register for the webinar, please click HERE.
Pharmavite has partnered with Nutrition Business Advisors to manage applications.