According to the signed agreement terms, Neptune and Nestlé will jointly research the effects of Neptune Krill Oil (NKO) on exceptionally prevalent conditions affecting the worldwide adult population. The research was initiated at the beginning of July 2007. The design and identification of primary investigators for the study has been completed. Upon successful completion of the trial the companies will proceed with the Development and License Agreement.
"I am extremely pleased for this cooperation between Neptune and Nestlé. With this collaboration, we are not only fulfilling a pivotal milestone we also have an opportunity to strengthen our presence in the functional food market in partnership with the world's largest food company in the rapidly growing and profitable healthcare nutrition segment," said Henri Harland, president and CEO at Neptune.
"I am very excited about the opportunity to join the Nestlé Research Center Team in investigating new frontiers for Neptune Krill Oil," said Dr. Tina Sampalis, vice president of R&D and Business Development.
"Following the trend of tremendous growth witnessed in functional food & drink, we are extremely pleased with our collaboration with Nestlé. Moreover, in order to further capitalize on the sustainable growth of the functional food market as planned in our business plan, we are already targeting more strategic worldwide partners," said Thierry Houillon, vice president of Business Development, Functional food at Neptune.
From the July 16, 2007, Prepared Foods e-Flash