Eve Investments has entered into a binding agreement to acquire a 40% stake in Omni Innovation Pty Ltd, a medical technology company focused on foods for special medical purposes.
Omni Innovation is a private medical food technology company focused on the creation of products, tools and technologies for foods for special medical purposes.
Omni Innovation previously received a Commercialisation Australia grant which assisted in funding the development of a pre-meal drink for the dietary management of type 2 diabetes (T2D). This flagship product, GlucoControlTM is a patented pre-meal drink which has been clinically shown to help manage T2D by reducing blood glucose spikes after meals. Omni Innovation has signed an exclusive 6 year Marketing and Wholesale Distribution Agreement for Australia and New Zealand with a national pharmacy brand. Under the terms of this Agreement, GlucoControlTM will be distributed to over 6,000 pharmacy outlets, as well as heath care providers in the first half of 2016.
EVE's investment will be used to support the roll-out of GlucoControlTM, as well as expedite expansion in to high value overseas markets. EVE has secured the right to publicly list Omni Innvoation within two years, providing EVE shareholders with preferential entitlement to participate in the listing.
Please refer to the Omni Innovation website www.omniinnovation.com.au for further information.
Faulding launched a TV Commercial marketing campaign for Faulding® GlucoControlTM in late September. The TV commercial can be viewed here.
Faulding® GlucoControlTM Dr. Ross Walker presented a segment on the benefits of Faulding® GlucoControlTM on the Nine Network’s Today Show, on 20 September - view here.