Symrise joins forces with Cambridge Theranostics
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Corporate news announcement processed and transmitted by Hugin ASA.
The issuer is solely responsible for the content of this
announcement.
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The corporation enters the health and medical food market and renames
its Cosmetics business unit "Life Essentials"
Paris/Cambridge - Symrise AG and Cambridge Theranostics Ltd have
entered into a strategic partnership as of Dec. 21st, 2007. Under the
agreement, Symrise will contribute up to ¤8 million in
milestone-related payments towards the development and clinical
evaluation of new health and medical food products. The partners will
share the profits on products resulting from the collaboration. For
Symrise, this step means expanding its activity into the health
market. This is a logical extension of its investment in the
nutraceuticals sector with the successful acquisition of Kaden
Biochemicals GmbH early 2006. In addition, Symrise has invested ¤2
million in capital into the English company which specializes in the
diagnostics and prophylaxis of cardiovascular diseases. Cambridge
Theranostics, which was founded in 2002 as a spin-off from Cambridge
University, will use its proprietary screen to select natural
products from Symrise's extensive libraries of extracts and compounds
to identify high value compounds that can best protect plasma
lipoproteins from oxidative damage and afford effective protection
against cardiovascular diseases. Cambridge Theranostics will then
perform pharmacokinetic and clinical studies with the aim of
launching two products by the year 2010.
Dr. Gerold Linzbach, CEO of Symrise, said, "This alliance will enable
us to enter our active ingredients into the high value healthcare
sector. It is the next logical step in implementing our growth
strategy by offering intelligent products which have an added value
for consumers."
Dr. G. H. Schmidt, CEO of Cambridge Theranostics, also confirms the
major potential of this alliance: "Thanks to this partnership we can
develop unique health products based on scientific and clinically
validated knowledge. The products will be available via pharmacies.
Prevention of cardio-vascular complications is a rapidly emerging
healthcare sector, currently covered neither by traditional
pharmaceutical companies, nor by the food industry. There is a
particular need to maintain healthy blood vessels, because about half
the population affected by heart attacks or strokes had no prior
symptoms."
In order to reflect the strategic orientation towards health and
beauty, Symrise has renamed its Cosmetics business unit "Life
Essentials". Achim Daub, President of Scent & Care at Symrise,
explains, "We look at the aspects of beauty and health from a broader
point of view. The boundaries between beauty and healthy wellbeing
have long since become blurred, as can be seen by the way the
wellness movement emerged several years ago. People who are healthy
and feel well radiate that feeling. Beauty comes from within as well.
This is our premise and we take our strategy of the "Power of `And`"
to its natural conclusion: for us, beauty and health are inseparably
intertwined."
About Symrise
Symrise is a global supplier of fragrances, flavorings and raw
materials and active ingredients for the perfume, cosmetics and food
industry. Its sales of ¤1.27 bn in 2007 place the company among the
top four in the international flavors and fragrances market.
Headquartered in Holzminden, Germany, Symrise is represented in more
than 30 sites in Europe, Asia, the United States and South America.
With more than 40 first patent applications per year, Symrise is one
of the most innovative manufacturers on the market. Used by
manufacturers of perfumes, cosmetics and foods, our products are an
inseparable part of daily life. At Symrise we combine an awareness of
consumer trends with cutting-edge technologies, focusing on
innovative fashion and lifestyle products that have additional
practical value for the consumer. Symrise - always inspiring more...
www.symrise.com
About Cambridge Theranostics
Based in Cambridge, UK, Cambridge Theranostics was founded in 2002 to
commercialize intellectual property relating to lipid oxidation from
its founder, Dr Ivan Petyaev. The Company successfully developed
Ateronon®/(TM); the first clinically proven product able to inhibit
plasma lipoprotein oxidation, which is also a natural product and is
licensed to Cambridge Theranostics exclusively by Nestlé.
Cambridge Theranostics recently successfully completed a pre-IPO
private placement managed by Charles Stanley Securities, a London
stockbroker. The Company focuses on development of its intellectual
property and the clinical validation of its products. It has a global
network of partners for product manufacture, distribution and
marketing.
www.cambridgetheranostics.co.uk
Contact
Symrise:
red roses communications
Katja Derow
Phone: +49 162-4311376
E-Mail: k.derow@redroses-pr.com
Contact Cambridge Theranostics:
Dr Gunter Schmidt
Phone: +44 7711704816
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Symrise AG
Mühlenfeldstraße 1 Holzminden Germany
WKN: SYM999; ISIN:
DE000SYM9999; Index: MDAX, TecDAX;
Listed: Amtlicher Markt in Frankfurter Wertpapierbörse, Freiverkehr
in Bayerische Börse München,
Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr
in Börse Berlin,
Freiverkehr in Börse Düsseldorf, Freiverkehr in Börse Stuttgart,
Prime Standard in Frankfurter Wertpapierbörse;
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