Probi AB Agreement Opens American Market for Health Foods

Probi has signed a license agreement with NextFoods for the American market regarding launch of a functional food product containing Probi's probiotics. Probi is guaranteed a royalty of USD 1.5 million in 2008-2009.

NextFoods will be making significant investments in marketing and developing the new LP299v juice shot product line over the coming two years. The shots will initially be launched in 1,500 natural products and natural food grocery stores, followed by a national launch to US grocery retailers.

NextFoods estimates that up to 25% of the US population suffers from functional gastro-intestinal disorders and could benefit from incorporating LP299v into their life. The agreement guarantees Probi USD 1.5 million during 2008-2009 and covers the period up until 2015.

- Based on the clinical evidence, we believe LP299v is the superior Probiotic strain for supporting a healthy gastro-intestinal system, says Steve Demos, Co-Founder and Chairman of NextFoods.

Probi has confidence in NextFoods 

Michael Oredsson, President of Probi sees a significant potential in the agreement and rely on Nextfoods' high credibility:

- NextFood's founders has successfully developed and marketed new, innovative and healthy foods. NextFood's management has high credibility on the American health food market, which reinforces the chances of a successful launch, says Michael Oredsson.

The new products and the product label will be launched at Natural Product Expo East in Baltimore this week.

For further information visit the Probi homepage.

Source: Probi, press release, 26.09.2007