KEC Sells Cyanotech's Astaxanthin in Japan

KAILUA-KONA, Hawaii--On Nov. 1, Cyanotech Corp. announced a distribution agreement between itself and Kyowa Engineering Co. (KEC), a unit of Kyowa Hakko. KEC will distribute Cyanotech's astaxanthin brand, BioAstin, in Japan.

This is a semi-exclusive, three-year agreement that requires an initial payment to Cyanotech, followed by an additional payment prior to the beginning of two planned clinical trials assessing BioAstin's efficacy for certain health concerns. Currently, Cyanotech has a study underway researching astaxanthin's effects on carpal tunnel syndrome. Afterwards, KEC will purchase BioAstin softgel capsules from Cyanotech and will pay royalties from the capsule sales.

Cyanotech expects to experience strong sales after the clinical trials are finished and the product is registered with the Japaneses Ministry of Health and Welfare. For additional information, visit www.cyanotech.com.