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Enzymotec Ltd.  (ENZY)
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What are Enzymotec Ltd.'s Business Segments?



Nutrition segment

Our Nutrition segment sells lipid compositions and bioactive ingredients as ingredients for infant formula, adult nutrition products and dietary supplements, which we tailor to the special needs of the nutrition industry. These ingredients are sold by us to three types of customers: (i) companies that manufacture the end-product themselves; (ii) companies that outsource manufacturing of the end product; and (iii) outsourced manufacturers of the end product.

InFat®

Soy-PS

K•REAL®, our
krill oil

PS Line of
Products

GPC Line of
Products
• A clinically-proven fat ingredient for infant formula that more closely resembles the composition and properties of human breast milk fat.
• Offered by AL.

• A nutritional ingredient to improve cognitive and mental performance.

• Pure K•REAL®

• High Potency K•REAL®

• Custom made K•REAL®

• Sharp PS®

• Sharp PS® SILVER

• Sharp PS GOLD

• Sharp PS GREEN

• Sharp GPC

• Sharp GPC ACTIVE

InFat® — InFat is a clinically-tested lipid ingredient for infant formula that enables infant formulas to more closely resemble the composition and properties of human breast milk fat. The product was originally developed by us and its initial sales, from 2004 to 2006, were made directly by us. In 2007, we entered into a joint venture with AAK relating to the production, marketing, sale and distribution of InFat. As a result, all sales of the product are now made through AL, the joint venture company. See “— Joint Venture with AAK” below.

Human breast milk is considered the optimum nutrition for infants, as it provides the perfect balanced diet to meet the needs of the growing child. Accordingly, the ultimate goal for every infant formula producer is to offer a product as similar as possible in its functional and nutritional benefits to human breast milk. The special fat structure in human breast milk, which is known as sn-2 palmitate, is found in all women and offers clinically proven benefits for infant development. Through the use of our proprietary technologies, we have developed an enzymatic process to restructure vegetable oils into a sn-2 palmitate enriched fat, the InFat ingredient for infant formula, which more closely resembles the fat composition and properties of human breast milk fat.

Our published peer reviewed clinical studies demonstrate that formula containing InFat provides infants with unique benefits, such as stronger bones, improved intestinal flora and reduced crying, in addition to reduced constipation, improved calcium absorption and more efficient energy intake.

The InFat ingredient sold by AL is customized according to customers’ requirements, ranging from a concentrate form of InFat to complete blends of InFat with various additional vegetable oils for use by infant nutrition manufacturers.

Soy-PS® — Our Soy-PS product is a lipid ingredient. Our Soy-PS formulation is derived from soybean lecithin and is designed to improve cognitive and mental performance.

Krill Oil — We are a leading manufacturer of krill oil, a premium omega-3 bound to phospholipids. Our product, K•REAL®, previously known as Krill Oil+, which was first commercialized in 2006, is manufactured by us according to rigorous quality and freshness standards. Krill oil offers advantages over competing products, such as fish oil, due to the bio-availability of krill oil and the ease with which the omega-3 fatty acids are absorbed into the bloodstream. Our krill oil also offers the additional benefits such as low smell and oxidation-resistant krill oil compared to our competitors.

We offer the following krill oil products:


Pure K•REAL®, characterized by its purity, freshness, high stability and low viscosity;


High Potency K•REAL®, which contains enriched levels of omega-3 fatty acids, without dilution of the level of phospholipids found in pure krill oil; and


Custom made K•REAL®, suited for specific customer needs, including different grades of K•REAL®, more cost-effective K•REAL® through the reduction of phospholipid levels, and the inclusion of higher levels of certain ingredients as compared to our other K•REAL products.

K•REAL® is processed only from Antarctic krill, which we source from vessels and facilities approved for food handling and storage by the appropriate national food safety authorities. These vessels and facilities are also approved by members of the Commission for the Conservation of Antarctic Marine Living Resources, an international commission with responsibility for the conservation of Antarctic marine ecosystems. We have conducted comprehensive safety evaluations of K•REAL® krill ingredients and have determined them to be “Generally Recognized as Safe” (GRAS) for certain food uses. We notified the FDA of our GRAS determinations and the FDA issued a “no questions” response letter advising us that the FDA accepts our conclusion that our K•REAL® krill ingredients are GRAS. Further, as of 2015, the Novel Food status of K-REAL® krill oil has been expanded to cover additional grades of the product.

PS line of products — This consists of a range of food supplements, containing Phosphatidylserine, or PS, a phospholipid component of cell membranes and a building block of the human brain. Research has indicated that PS has a role in the proper signal processing and cell-to-cell communication functions of nerve cells. These products are sold by us as a powder (generally for use in tablets, capsules and functional foods) and as a liquid or dispersion (generally for use in soft gels). This line of products includes the following:


Sharp PS® — Is a soybean-derived PS brain nutrient, introduced in 2003. It is a nutritional supplement for adults, intended to improve cognitive capabilities, such as memory. Sharp PS is also shown to benefit other populations, such as young persons, by improving memory, learning abilities and concentration.

Sharp PS SILVER® — Is a blend of two different active ingredients, PS and omega-3, derived from soybean and fish oils, introduced in 2008. It is intended to improve mental and cognitive abilities.


Sharp PS GOLD — This patented compound nutrient, introduced in 2006, offers high potency PS together with targeted deliveries of DHA to the brain. It mimics human PS found in the brain. Two versions of this product are available, one derived from fish oil and the other from krill oil. Clinical trials have shown that Sharp PS GOLD is effective in improving memory in elderly persons suffering from age-associated memory decline.


Sharp PS GREEN — Is a soy-free PS food supplement, derived from sunflowers, introduced in 2010, aimed at the large and growing market of health conscious and environmentally-concerned consumers who demand clean, pure, soy allergen-free and non-GMO (genetically modified organisms) ingredients. Sharp PS GREEN is also offered in a special gummy-bears application intended for children under our trade name SharpKidz.

GPC line of products — Consist of a range of food supplements, containing L-Alpha Glycerylphosphorylcholine, or alpha GPC, a natural choline compound found in the brain. Alpha GPC is the simplest phospholipid, and a key metabolite in choline metabolism signaling. In addition, alpha GPC serves as an organic osmolyte and assists in proper kidney function and may play a role in sperm motility. Alpha GPC is naturally occurring in certain foods, such as milk, eggs and meat, in low amounts. Alpha GPC is sold in the United States as a dietary supplement and in Europe and South America as a drug for patients suffering from dementia related to Alzheimer’s disease or cerebrovascular conditions, such as strokes.

Our GPC products are sold by us as a powder (generally for use in tablets and capsules) and as a liquid (generally for use in soft gels and drops).

This line of products includes the following:


Sharp GPC — This product, derived from soybeans and introduced in 2011, is used for improving cognitive functions for different age populations. It is also suitable for use by aging persons facing the deterioration of their cognitive functioning. Sharp GPC is available in various forms, including a powder (with 99% maximum purity) and a liquid (with 85% maximum purity) for different applications.


Sharp GPC ACTIVE — This product, derived from soybeans and introduced in 2011, is an alpha-GPC-based complex (comprised of 45% alpha-GPC), which has the known beneficial value of GPC on human health, especially on cognitive function and additional important biological activity, resulting from the presence of other naturally occurring, lecithin-derived compounds. Sharp GPC ACTIVE is a naturally-sweet, water-based platform, which is compatible with a wide range of nutrients and does not require special preservatives.

We also have a nutritional ingredient product, InCog, which is an innovative lipid composition for cognitive functioning. InCog has been approved as a Novel Food in Europe and its further development is ongoing. We recently completed a pre-clinical study in pre-term piglets. Pre-term pigs delivered at 92% term were fed milk replacer supplemented with or without (control) InCog. Term pigs euthanized at day 0 served as an additional control. Functional and structural brain development was evaluated following 10 days of supplementation. Results showed that InCog may enhance functional and structural development of the pre-term brain, as demonstrated by increased brain and cerebellar growth, higher densities of granule cells, and reduced N1 amplitude to the second tone measured by event-related brain potentials (ERP). The results were presented at 30th International Conference on Nutrition and Growth (Vienna, 2016) and at the Experimental Biology Meeting (San Diego, 2016).

In 2014, we also began production and sale of Pro•krill, our first product that is for uses other than human consumption. Pro•krill is an enriched protein preparation left after the krill oil is extracted, which we are able to access now that we perform krill oil extraction in-house. It has a unique composition of amino acids making it a very good source of protein for aqua culture.

VAYA Pharma segment

Our VAYA Pharma segment is dedicated to the discovery, development, manufacture and marketing of innovative clinically-tested, effective and safe lipid-based medical foods for the cardiovascular and neurological markets, as well as for the pharmaceutical drug markets. Our VAYA Pharma segment currently offers the following products:

Vayarin

Vayacog

Vayarol
For clinical dietary management of complex lipid imbalances associated with ADHD in children.

For clinical dietary management of complex lipid imbalances associated with early memory impairment.

For the clinical dietary management of certain lipid imbalances associated with hypertriglyceridemia.

In the United States, each of the three products currently offered by our VAYA Pharma segment is sold as a “medical food,” available only under the supervision of a physician (either by prescription or acquired directly from a physician in the context of the physician patient-relationship), meeting the criteria for medical foods enumerated by the FDA.


Vayarin® — Vayarin® is an orally administered medical food for the clinical dietary management of complex lipid imbalances associated with attention deficit-hyperactivity disorder, or ADHD. It is used under the supervision of physicians. Vayarin is aimed at children and pre-adolescents with ADHD, children who are reluctant to start drug therapy or are intolerant to stimulant therapy, or children with a more pronounced hyperactive-impulsive behavior, as well as mood and behavior dysregulation. Vayarin contains Lipirinen, a proprietary composition containing phosphatidylserine (PS) conjugated to omega-3 fatty acids enriched with Eicosapentaenoic acid (EPA). Vayarin was first introduced in Israel in 2010 and in the United States in 2011.


Vayacog® — Vayacog® is an orally administered medical food for the clinical dietary management of complex lipid imbalances associated with early memory impairment. It is used under the supervision of physicians. Vayacog is aimed at people with subjective memory impairment, those suffering from normal age-associated memory decline and people with mild cognitive impairment (MCI). Vayacog contains Lipicogen, a proprietary composition containing phosphatidylserine (PS) conjugated to omega-3 fatty acids enriched with Docosahexaenoic acid (DHA). Vayacog was first marketed in 2011.


Vayarol® — Vayarol® was initially introduced as a dietary supplement in the United States in 2007 and as a medical food in 2011. In the United States, it is now an orally administered medical food for the clinical dietary management of lipid imbalances associated with hypertriglyceridemia. It is used under physician supervision. Outside the United States, Vayarol targets those suffering from hypertriglyceridemia, individuals who are reluctant to start drug therapy for this condition, or those with borderline to moderate mixed hyperlipidemia. In the latter case, it is administered to patients with mild elevation of LDL cholesterol or who are intolerant to statins and other medications. Vayarol contains Lipirolen, a proprietary composition containing phytosterol esters conjugated to omega-3 fatty acids enriched with Docosahexaenoic acid (DHA) and Eicosapentaenoic acid (EPA).

While our current focus is to expand our three current products, we also have a number of VAYA products in various stages of development.

   

Enzymotec Ltd. Tax Rate Companies within the Biotechnology & Pharmaceuticals Industry


Business Segments Q4
Revenues
(in millions $)
Q4
Income
(in millions $)
(Dec 31 2016)
%
(Profit Margin)
Total 47.70 -2.92 -

Growth rates by Segment Q4
Y/Y Revenue
%
(Dec 31 2016)
Q/Q Revenue
%
Q4
Y/Y Income
%
(Dec 31 2016)
Q/Q Income
%
Total -5.35 % - - -

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