IGEA Pharma N.V.: IGEA to update on strategic refocusing decisions.

IGEA Pharma N.V. / Key word(s): Miscellaneous

30-May-2023 / 01:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

IGEA to update on strategic refocusing decisions.

Hoofddorp, the Netherlands, 30 May 2023. IGEA Pharma N.V. (SIX: IGPH) today announced a refocusing on its industrial process segment.

Pursuant to the new board of directors in office since end of April 2023, the expected setup of an own industrial center for transforming CBD and other vegetable-based matrices into high value products for the health prevention, cosmeceutical and other selected industries in Biasca, Switzerland, has been stagnating for almost two years now, the funding remainsuncertain- the two-years convertible bond commitment with UAE-based Negma group activated in early 2021 has meanwhile ended –and the start of the activities still unpredictable.

In the best interests of IGEA and its stakeholders, the board has therefore decided to sell the industrial process segment. The transaction will strongly reduce IGEA’s net passive exposure in 2023 and will allow the board of directors to focus onfurther solutions in the cosmeceutical industry,which continues to be attractive with an over 8% CAGR growth expected within 2029 (based on a ‘Fortune Business Insight’ report of 2022).

Theboard of directors furthermore indicates that the refocusing will also include the simplification of the group’s corporate and operational structure, with the removal of some in-between entities that today are non-active or active only in part, as well as all such other entities that did not generate revenue in the distribution segment during 2022 due to a defocusing of their activities, as previously disclosed on 15 May 2023.

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About IGEA

IGEA Pharma N.V. focuses through its Joint Venture on industrial CO₂ supercritical extraction of CBD and other valuable components from their vegetable matrices for health prevention, pharma, food&beverage, and other selected industries, with an innovative early-stage commercial and highly diversifiable pipeline. The company aims to become a center of excellence on highly controlled vegetable matrices and their industrial extraction technology. On the other hand, Igea operates on preventative health-tech products and devices, commercializing an Alzheimer’s prevention set (which includes ’Alz1’, an at-home lab test kit to measure non-bound copper in the blood and a natural dietary supplement branded ‘Alz1 Tab’ designed to reduce blood heavy metals content) and expects to integrate the non-bound copper detection-based pipeline with a diabetes type II prevention set in the next future. IGEA furthermore commercializes a COVID19 rapid test for the detection of IgM and IgG SARSCoV-2 related antibodies.

IGEA is listed on the SIX Swiss Exchange (ticker IGPH) and is headquartered in Hoofddorp, the Netherlands.Find out more at www.igeapharma.nl

Contacts

Pierpaolo Cerani, CEO,cerani@igeapharma.nl

Disclaimer

This document constitutes neither an offer to buy nor to subscribe securities and either this document nor any part of it should form the basis of any investment decision in IGEA. The information contained in this press release has been carefully prepared. However, IGEA bears and assumes no liability of whatever kind for the correctness and completeness of the information provided herein. IGEA does not assume an obligation of whatever kind to update or correct information contained in this press release whether as a result of new information, future events or for other reasons. This publication may contain specific forward-looking statements and assessments or intentions concerning IGEA and its business. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development, or performance of IGEA and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward-looking statements. IGEA assumes no responsibility to update forward-looking statements or to adapt them to future events or developments, except as maybe required by law.