Lycored Announces Joint Venture With Algatech

Press Release

Lycored, an international wellness company at the forefront of ingredient and nutrition supplements, announced today a joint venture with Algatechnologies (Algatech), a premier biotechnology company and global leader in cultivating microalgae and production of natural astaxanthin. Lycored will distribute Algatech's AstaPure natural astaxanthin carotenoid in the form of beadlets, increasing the brand's commercial reach for this product range in the North American market.

"Lycored wanted to evolve its astaxanthin offerings while maintaining our commitment to distributing premium quality ingredients that consumers and industry partners can trust," said Golan Raz, Head of Global Health Division at Lycored. "We are able to maintain vertical integration through this partnership as it is the process Algatech takes when developing their astaxanthin ingredient. Lycored will also have complete access and transparency of Algatech's supply chain to be able to control and ensure the optimal quality of the nutrient."

Astaxanthin is a carotenoid most commonly found in shrimp, salmon and healthy algae. Algatech sources this colorful pigment through the microalgae haematococcus pluvialis and develops it into raw astaxanthin oil. This nutrient, which Lycored will process as oil beadlets to create a gelatin and vegan Astaxanthin beadlets, also has antioxidative and anti-inflammatory properties, has been linked to healthy cardiovascular and immune systems, and has potential effects on the aging process.

Once in its vegan beadlet form, Lycored's North American commercialization team will market and distribute it to develop a foundation for this new range of their astaxanthin business, where the beadlets can be used for dietary supplements and are generally recommended as safe for use in food and beverages. Specifically, the astaxanthin beadlets can be combined with other nutrients in product formulations, such as dry blended beverages and health bars, as a way to help satisfy today's market demand for supplementary nutrition.

"Supplying the world with pure, 100% natural microalgae requires a tremendous amount of knowledge, experience, fully controlled processes and a constant attention to detail. Beyond the biology and the technology, it takes a never-ending determination and a drive to keep going despite the odds. For us, it's a fundamental part of our shared vision: to make an impact by bringing the good that's in microalgae to the world, and we strive to do that through diversify high quality delivery forms. Therefore, partnering with Lycored on Astaxanthin Beadlets was a natural choice for us," says Hagai Stadler, CEO of Algatech. "Lycored micro capsulation technology, as well as its core values and passionate team is the right partner for Algatech, and will contribute significantly to the development of the Astaxanthin market."

This timely partnership comes following Lycored's newest patent for 'Astaxanthin Anti-Inflammatory Synergistic Combinations', which acknowledges that the synergistic combination between astaxanthin and tomato-derived lycopene works to suppress inflammation in the body. For Lycored, tomatoes and lycopene were just the beginning. Through its partnership with Algatechnologies Ltd., Lycored will be able to offer a superior algae-derived astaxanthin, a reflection of both its commitment to excellence and its firm belief in collaboration.

To find out more about Lycored's astaxanthin business through Algatech, please visit http://www.lycored.com/astaxanthin/