New Zealand Coastal Seafoods Ltd. (NZCS; Christchurch, New Zealand) entered into a non-binding memorandum of understanding (MOU) with Ingredients Plus, in which the companies will work jointly on the development and distribution of a clinically-backed collagen product that is manufactured from premium ling maw supplied by NZCS. Ling maw is a large white-fleshy eel-like ocean fish found in New Zealand’s deep, cool waters and the surrounding sub-Antarctic international deep sea, explains NZCS.
Ingredients Plus is an independent supplier that serves customers throughout Australasia and South East Asia. The agreement includes a co-development plan for the product comprising principal discussion terms, including clinical trials, cost-sharing, product pricing, marketing , IP, exclusivity, and confidentiality. Both parties will work together with RDC Clinical, a leading clinical research organization, to develop a trial framework that establishes the most robust data supporting the use-case of the proposed collagen product. Ther proposed clinical trial initiative follows NZCS’ recent success in commercializing high quality marine collagen powder using a more efficient, and less costly process it had developed for collagen extraction from ling maw.
“We are pleased to have secured this MoU with Ingredients Plus, which sets out the first step in our ongoing R&D and product development strategy, as well as a framework for the joint development of a leading new collagen product derived from ling maw via a clinical trial pathway,” said CEO of NZCS, Andrew Peti, in a press release. “In the development of our nutraceutical suite, we have identified a major market opportunity for a clinically backed collagen product in the health & beauty sector, which more broadly continues to benefit from positive long-term supply trends. We look forward to working with Ingredients Plus in forming a product development and distribution strategy which leverages the respective strengths of both companies. The MoU marks the latest step by New Zealand Coastal Seafoods to identify key market opportunities on the inherent competitive advantage of its world class sustainable fishery operations.”
The production target outlined in the MoU is set at 1,400 kg for the first 12 months, with exclusivity rights between the parties to be negotiated in a separate supply agreement.