Guardion Health Sciences Acquires the NutriGuard Brand of Products
September 23 2019 - 10:30AM
Guardion Health Sciences, Inc. (“Guardion” or the “Company”)
(NASDAQ: GHSI), through its newly-formed wholly-owned subsidiary,
NutriGuard Formulations, Inc., has acquired certain assets of
NutriGuard Research, Inc. (“NutriGuard”). This acquisition, which
was effective as of September 20, 2019, provides a
direct-to-consumer (“DTC”) capability for the Company. Guardion is
a leader in the field of ocular health technologies and products.
NutriGuard formulates high-quality,
scientifically-credible nutraceuticals, which are designed to
supplement consumers’ diets and assist in treating/preventing
diseases, with a goal of becoming a globally-respected and
physician-preferred nutraceuticals brand. NutriGuard has been in
business for over 30 years. NutriGuard not only uses pharmaceutical
standards to establish the safety and efficacy of the products it
develops and markets, but it also maintains that commitment through
rigorous manufacturing and quality assurance programs. Guardion’s
vision is to increase NutriGuard’s existing customer base and build
on its product platform by making NutriGuard products available to
patients directly and through recommendations by their
physicians.
Guardion acquired specified assets of the
NutriGuard brand, including trademarks, copyrights and other
intellectual property, and assumed certain liabilities of
NutriGuard in exchange for a royalty fee to be paid to NutriGuard
upon meeting certain financial performance metrics from the sale of
NutriGuard’s brand of products. In conjunction with the
transaction, the founding shareholder of NutriGuard, Mark McCarty,
is entering into a consulting agreement with NutriGuard
Formulations, Inc., pursuant to which Mr. McCarty will provide
consulting services to, and serve as the Director of Research of,
NutriGuard Formulations, Inc., which will help Guardion integrate
DTC capabilities into its operations.
Mr. McCarty commented, “I am very excited about
joining forces with Guardion. We are seeing increasing numbers of
physicians becoming educated on the value of rational nutraceutical
supplementation. Additionally, more and more research studies on
the health benefits of nutritional supplements are being published
in respected medical journals. With significant clinical data and
product-specific scientific evidence now available, many doctors
are looking for ways to incorporate therapeutic doses of key
supplements into their patients’ standard care.”
Michael Favish, Guardion’s CEO and founder,
added, “We believe that the NutriGuard acquisition marks just the
beginning of the expansion of Guardion’s nutraceutical portfolio.
This will enable us to market directly to consumers as well as to
their doctors. We are delighted to welcome Mr. McCarty as the
Director of Research of NutriGuard Formulations, Inc., and we look
forward to working with him as we continue to advance the
NutriGuard brand and support our doctor partners and the patients
that they serve.”
A more complete description of the transaction,
including a copy of the transaction documents, is filed in a
Current Report on Form 8-K with the Securities and Exchange
Commission and is available at www.sec.gov.
About Guardion Health Sciences,
Inc.
Guardion is an ocular health sciences company
that develops, formulates and distributes condition-specific
medical foods supported by evidence-based protocols, with an
initial medical food product that addresses a depleted macular
protective pigment, a known risk factor for age-related macular
degeneration (“AMD”), and a significant component of functional
vision performance. Guardion Health Sciences, Inc. has also
developed a proprietary medical device, the MapcatSF®, which
accurately measures the macular pigment density, therefore
providing the only two-pronged evidence-based protocol for the
treatment of a depleted macular protective pigment.
About VectorVision®
VectorVision® specializes in the standardization
of contrast sensitivity, glare sensitivity, low contrast acuity,
and ETDRS acuity vision testing. Its patented standardization
system provides the practitioner or researcher the ability to
delineate very small changes in visual capability, either as
compared to the population or from visit to visit. VectorVision®’s
CSV-1000 device is considered the standard of care for clinical
trials. VectorVision® is a wholly-owned subsidiary of Guardion.
Forward-Looking Statement
Disclaimer
Certain statements in this press release are
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. These statements
involve unknown risks and uncertainties that may individually or
materially impact the matters discussed herein for a variety of
reasons that are outside the control of the Company, including, but
not limited to, the Company’s ability to raise sufficient financing
to implement its business plan and its ability to successfully
develop and commercialize its proprietary products and
technologies. Readers are cautioned not to place undue reliance on
these forward-looking statements, as actual results could differ
materially from those described in the forward-looking statements
contained herein. Readers are urged to read the risk factors set
forth in the Company’s under the caption “Risk Factors” in the
Company’s’ Annual Report on Form 10-K for the year ended December
31, 2018 and the Company’s other filings made with SEC, which are
available at the SEC’s website (www.sec.gov). Forward-looking
statements included herein are made as of the date hereof, and the
Company does not undertake any obligation to update publicly such
statements to reflect subsequent events or circumstances.
Investor Relations Contact:Michael PorterPorter, LeVay &
RoseTelephone: (212) 564-4700E-mail: matthew@plrinvest.com
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