TIDMTEK
RNS Number : 7090W
Tekcapital plc
23 April 2019
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
23 April 2019
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update:
Salarius launches production of MicroSalt(R) and secures first
commercial order
Tekcapital Plc (AIM: TEK), the UK intellectual property (IP)
investment group focused on creating marketplace value from
investing in university technology, is very pleased to announce
that its portfolio company Salarius ltd. has launched production of
MicroSalt(R) and secured its first customer to incorporate
MicroSalt(R) in their snack food business.
Salarius is the developer and manufacturer of a remarkable new,
proprietary low sodium salt called MicroSalt(R). MicroSalt(R) is
made with very small salt particles that have a large surface
area-to-volume ratio. This creates a salty taste whilst using
significantly less salt.
The initial order is from a US snack food producer and Salarius
expects to dispatch the MicroSalt(R) in May 2019.
Market Information
According to the World Health Organization(1) , cardiovascular
disease takes the lives of 17.9 million people per year and is
responsible for 31% of global deaths. In the U.K., there are about
160,000 deaths from heart disease each year accounting for 26% of
all deaths.(2)
High blood pressure is a key risk factor for developing heart
disease.
On 5 March 2019, a new report from the National Academies of
Sciences, Engineering, and Medicine recommending reduced sodium
consumption guidelines.(3) This report introduces Chronic Disease
Risk Reduction (CDRR) intakes for sodium. According to the National
Academies of Sciences, Engineering and Medicine:
"There is sufficient evidence to characterize the relationship
between sodium intake and risk of chronic disease. Therefore, the
committee established a Chronic Disease Risk Reduction Intake
(CDRR) for sodium using evidence of the beneficial effect of
reducing sodium intake on cardiovascular disease risk, hypertension
risk, systolic blood pressure, and diastolic blood pressure.
Reductions in intakes that exceed the sodium CDRR are expected to
reduce chronic disease risk within the apparently healthy
population. For individuals ages 14 and older, the CDRR
recommendation is to reduce sodium intakes if above 2,300 mg per
day. The committee also established a sodium CDRR for children ages
1-13."
The report also states: "Reducing sodium intake has a greater
effect on adults with hypertension than on adults with normal blood
pressure, but the benefits of reducing sodium intake toward the
sodium CDRR or below apply to both groups."
The low sodium ingredient market is estimated to reach US$1.76
billion by 2025 with a CAGR 11.7%(4) . The highly competitive
global savory snacks market is expected to reach $US108 billion by
2021(5) . We believe both markets could immediately benefit from
the availability of MicroSalt(R).
Victor Hugo Manzanilla, CEO of Salarius, said:
"We are thrilled to announce the launch of the production and
the first sales of MicroSalt(R), a practical and revolutionary
solution that significantly reduces sodium in snack foods, without
reducing the salty flavor consumers enjoy. We know that "flavor is
everything" in the snacks industry, so we developed a salt that
does not compromise on flavor, while simultaneously addressing the
critical need to reduce sodium.
Consumers are aware of the need to eat healthier and select
better-for-you options when available. MicroSalt(R) will help
manufacturers worldwide take a leadership role in reducing
cardiovascular disease by enhancing the nutritional content of
their products. MicroSalt(R) is non-GMO and all natural. In
addition, the small size of MicroSalt(R) provides better adhesion
to the food surface, reducing the amount of salt that falls off
products during transport and display, reducing waste and helping
to ensure a consistent flavor profile."
Dr Clifford Gross, Executive Chairman at Tekcapital, commented:
"We are delighted that Salarius has launched commercial production
of MicroSalt(R) and has secured its first customer order to
incorporate MicroSalt(R) into their snack food business. This is a
major milestone for the company and is the result of the terrific
work of Victor Manzanilla, CEO of Salarius, and his capable
team.
Victor formerly served as Marketing Director at Office Depot and
Home Care Marketing Innovation Manager and Brand Manager at Procter
& Gamble. His extensive prior experience has well prepared him
to rapidly grow Salarius and globally commercialise MicroSalt(R).
This underscores a basic tenant of Tekcapital: when you combine
compelling intellectual property with star power management,
significant marketplace value can be achieved.
MicroSalt(R) has the potential to empower companies worldwide to
make healthier snacks that reduce sodium consumption for their
customers. We believe that Salarius will be successful in not only
building a vibrant business, but in making a dent in helping to
reduce cardiovascular diseases, the leading cause of death in the
world(6) ."
Tekcapital owns 97.5% of the share capital of Salarius.
About Salarius ltd
Salarius is the developer and manufacturer of a proprietary low
sodium salt called MicroSalt(R). Salarius is passionate about
improving lives with healthier food and is taking the lead in the
industry by providing the best low-sodium salt solution, based on
the mechanical transformation of the salt particle itself. This
solution is the only one that delivers real salt flavor, because it
is salt. The technology produces salt crystals that are
approximately one hundred times smaller than typical table salt,
delivering a powerful saltiness as the micro-grains dissolve in the
mouth, with approximately 50% less sodium consumption. To learn
more please visit https://salarius.co.
About Tekcapital plc
Tekcapital creates value from investing in new,
university-developed intellectual properties and provides a range
of IP investment services to make it easy for organisations to
commercialise university-developed technology. Tekcapital is quoted
on the AIM market of the London Stock Exchange (AIM: symbol TEK)
and is headquartered in Oxford, in the UK. For more information,
please visit www.tekcapital.com
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
Tekcapital Plc Via Yellow Jersey PR
Clifford M. Gross, Ph.D.
finnCap Ltd (Nominated Adviser and Joint
Broker) +44 (0) 20 7220 0500
Geoff Nash/ Max Bullen-Smith (Corporate
Finance)
Camille Gochez (ECM)
Novum Securities Limited (Joint Broker) +44 (0) 20 7399 9427
Colin Rowbury (Corporate Broking)
Yellow Jersey Limited +44 (0) 20 7933 8780
Tim Thompson / Annabel Atkins tekcapital@yellowjerseypr.com
This press release is for informational purposes only. The
information herein does not constitute investment advice nor an
offer to invest and may contain statements related to our future
business and financial performance and future events or
developments involving Salarius or Tekcapital that may constitute
forward-looking statements. These statements may be identified by
words such as "expect," "look forward to," "anticipate" "intend,"
"plan," "believe," "seek," "estimate," "will," "project" or words
of similar meaning. We may also make forward-looking statements in
other reports, in presentations, in material delivered to
customers, stakeholders and in press releases. In addition, our
representatives may from time to time make oral forward-looking
statements. Such statements may be based on the current
expectations and certain assumptions of Salarius or Tekcapital's
management. Please note that these are subject to a number of
risks, uncertainties and factors, including, but not limited to
those described in various disclosures. Should one or more of these
risks or uncertainties materialize, or should underlying
expectations not occur or assumptions prove incorrect, actual
results, performance or achievements of Salarius or Tekcapital may
vary materially from those described explicitly or implicitly in
the relevant forward-looking statement. Neither Salarius nor
Tekcapital intends, nor assumes any obligation, to update or revise
these forward-looking statements in light of developments which
differ from those anticipated.
References
(1) https://www.who.int/cardiovascular_diseases/en/
(2)
https://www.bhf.org.uk/for-professionals/press-centre/facts-and-figures
(3)
http://www8.nationalacademies.org/onpinews/newsitem.aspx?RecordID=25353
(4)
https://www.futuremarketinsights.com/reports/sodium-reduction-ingredient-market
(5)
https://zmrindustryjournal.us/8402/savory-snacks-market-size-share-expanding-across-the-globe-by-2016-2024/
(6)
https://www.who.int/en/news-room/fact-sheets/detail/the-top-10-causes-of-death
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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