NEXGEL and STADA Partner to Launch Leading European DAO Enzyme Supplement, Histasolv, in North America
11 Juin 2024 - 2:40PM
NEXGEL, Inc. (“NEXGEL” or the “Company”) (NASDAQ: NXGL), a leading
provider of medical and over-the-counter (OTC) products including
ultra-gentle, high-water-content hydrogels for healthcare and
consumer applications, today announced the first product to be
distributed under its recently formed partnership with STADA
Arzneimittel AG (“STADA”), a European leader in consumer health.
Histasolv®, sold as DAOSIN® in Europe, is Europe’s number one
selling Diamine Oxidase (‘DAO’) enzyme supplement generating well
over $10 million in annualized revenue to treat histamine food
intolerance, which can cause migraines and headaches, gut issues,
and skin conditions. Headquartered in Germany, STADA is one of the
fastest growing top ten companies in consumer healthcare and the
fourth largest manufacturer in this segment in Europe.
Adam Levy, CEO of NEXGEL, commented, “After
several months of collaboration and planning, we are pleased to
announce our distribution of Histasolv, the first product to be
released through our partnership with the well-recognized European
healthcare leader, STADA. Histasolv is one of STADA’s leading
consumer products in Europe and stands out as the preferred choice
among consumers seeking effective and safe histamine management due
to its superior ability to reduce symptoms of histamine
intolerance. We always strive to offer products that have the
potential to disrupt the traditional consumer health industry with
innovative formulation and technology, and Histasolv fits perfectly
within our business model.”
Histasolv’s innovative formulation and packaging
strongly differentiate it from competing products in the market
today. Due to its unique formulation, Histasolv can withstand the
upper intestinal tract to deliver the highest potency of DAO, an
important digestive enzyme in the body, to the lower intestine
where it is needed. Additionally, each tablet is Individually
sealed and preserved with nitrogen in a blister pack and secured in
a foil pouch, enhancing stability and ensuring potency. NEXGEL will
begin selling Histasolv direct-to-consumer in the third quarter of
2024.
STADA Chief Business Officer USA Patrick
Genestin, stated, “We are delighted to take this important step of
expansion into North America. This partnership further strengthens
STADA´s role as a partner of choice in consumer healthcare. Our
strategy of focusing on strong local hero brands in Europe provides
a rich assortment of appealing consumer products that are available
for licensing. With NEXGEL, we are confident we have found a
partner with the right strategy and experience and we can imagine
expanding our co-operation in the future.”
Volker Sydow, STADA EVP for Consumer Healthcare,
stated, “As Europe's No. 1 DAO enzyme supplement, we are proud to
bring our histamine expertise to the North American market, in line
with our corporate purpose of Caring for People's Health as a
trusted partner. We are particularly pleased to have found such a
strong and committed partner in NEXGEL to help us realize our
growth ambitions in the North American food intolerance
market.”
About NEXGEL, Inc.
NEXGEL is a leading provider of healthcare,
beauty, and over-the-counter (OTC) products including ultra-gentle,
high-water-content hydrogels. Based in Langhorne, Pa., the Company
has developed and manufactured electron-beam, cross-linked
hydrogels for over two decades. NEXGEL brands include Silverseal®,
Hexagels®, Turfguard®, Kenkoderm® and Silly George®. Additionally,
NEXGEL has strategic contract manufacturing relationships with
leading consumer healthcare companies.
About STADA Arzneimittel AG
STADA Arzneimittel AG is headquartered in Bad
Vilbel, Germany. The company focuses on a three-pillar strategy
consisting of consumer healthcare products, generics and specialty
pharma. Worldwide, STADA Arzneimittel AG sells its products in
approximately 120 countries. In financial year 2022, STADA achieved
group sales of EUR 3,797.2 million and reported earnings before
interest, taxes, depreciation and amortization (EBITDA) of EUR
884.7 million. As of 31 December 2022, STADA employed 13,183
people worldwide.
Forward-Looking Statement
This press release contains “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”) (which Sections were
adopted as part of the Private Securities Litigation Reform Act of
1995). Statements preceded by, followed by or that otherwise
include the words “believe,” “anticipate,” “estimate,” “expect,”
“intend,” “plan,” “project,” “prospects,” “outlook,” and similar
words or expressions, or future or conditional verbs, such as
“will,” “should,” “would,” “may,” and “could,” are generally
forward-looking in nature and not historical facts. These
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the Company's
actual results, performance, or achievements to be materially
different from any anticipated results, performance, or
achievements for many reasons. The Company disclaims any intention
to, and undertakes no obligation to, revise any forward-looking
statements, whether as a result of new information, a future event,
or otherwise. For additional risks and uncertainties that could
impact the Company's forward-looking statements, please see the
Company's Annual Report on Form 10-K for the year ended December
31, 2022, including but not limited to the discussion under “Risk
Factors” therein, which the Company filed with the SEC and which
may be viewed at http://www.sec.gov/.
Investor Contact:Valter Pinto, Managing
DirectorKCSA Strategic
Communications212.896.1254valter@kcsa.com
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