STOCKHOLM, May 25, 2020 /PRNewswire/ -- Enzymatica and its partner STADA have extended its agreement for the cold spray ViruProtect (ColdZyme) to cover another 19 countries in Europe. With the extended agreement STADA has provided order estimates of about SEK 20 million for 2020. The launch of ViruProtect in these new markets is expected to the fall of 2020.
Enzymatica and STADA have an agreement for sales and distribution of ViruProtect in Belgium and Austria since 2017. This agreement is now extended to another 19 countries in Europe. Most of these markets are countries in Eastern Europe but do also include a few Western European markets. The OTC Cough/Cold/Flu/Sore Throat market in these countries totals SEK 23.6 billion1) (ex factory sales). The estimated annual growth rate over the next five years is 2.4%. 1)
ViruProtect will be sold as a medical device in the countries covered by the extended agreement, and the first deliveries are expected to take place after the summer. The ordered volumes include both 7 ml and 20 ml bottles of ViruProtect.
"We are very pleased that STADA has great trust in our cold spray and has now extended our agreement to a large amount of markets in Europe. With a proven success of ColdZyme in a number of existing markets, there is a strong potential for further growth of our business in Europe," says Fredrik Lindberg, CEO of Enzymatica.
1.Nicholas Hall, 2018
The information in this press release is information that Enzymatica is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 10 am CET on May 25, 2020.
About Enzymatica AB
Enzymatica AB is a Swedish life science company that develops and sells health care products for primarily
conditions of the ear-nose-and-throat region. The products are based on a barrier technology that includes marine enzymes. The company's first product is the medical device ColdZyme, a mouth spray against common cold. The product has been launched in about ten markets. The strategy is to continue to grow by developing more health care products and strengthening the company's position in existing markets and expanding into new geographic markets through established partners. The company has its headquarters in Lund and is listed on Nasdaq First North Growth Market. For more information, visit: www.enzymatica.com and www.enzymatica.se/en/section/media/press-releases
For more information, please contact:
Chief Operating Officer Enzymatica AB
Communication manager Enzymatica AB
Enzymatica's certified adviser is Erik Penser Bank. Phone: +46(0)8-463-83-00. Email: email@example.com
Enzymatica AB Ideon Science Park, SE-223 70 Lund, Sweden Telefon +46 46-286 31 00
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