Jan 11, 2021, 14:00
Carbiotix (publ) ("Carbiotix") announces today that the company has been invited to participate in PepsiCo’s prestigious Greenhouse Accelerator. This will position AXOS onto centre stage with one of the largest food & beverage companies in the world.
PepsiCo’s Greenhouse Accelerator is a six-month, mentor-guided program that supports the acceleration of the latest innovators. This year’s?Greenhouse Accelerator program looks outside the box in areas like emerging science and technology that can help PepsiCo stay close to evolving consumer tastes and preferences. Each of the 10 participating companies will receive 20,000 USD in grant funding and begin a six-month business program designed to accelerate their growth through personalised mentorship from experts at PepsiCo. Mentors will collaborate with the companies to solve a range of business challenges, including business model development, scaling technology and go-to-market strategy. At the end of the program, PepsiCo intends to award one company an additional 100,000 USD in funding to continue its growth.
Kristofer Cook, CEO for Carbiotix, comments
"PepsiCo is on a mission to find innovative health and wellness companies that are focused on consumer health and personalised nutrition. It goes without saying, Carbiotix fits this profile perfectly, supplying a world-class prebiotic fibre ingredient that can satisfy a nutritional deficiency impacting 95% of the adult population, and a cost-effective and reliable diagnostic test to validate the effect and personalise the dosing of this fibre for each individual. It is truly an honour to join the 2021 Greenhouse Accelerator, receive a 20,000 USD grant, have the possibility of receiving an additional 100,000 USD, and collaborate with a food & beverage leader such as PepsiCo. Dedicated mentors from PepsiCo will help scale and grow our AXOS ingredient and LinkGut gut health testing service. From a timing perspective, this fits perfectly with our AXOS scale-up in Sweden and our ability to provide samples for formulation testing, as well as the planned completion of our first GRAS self-affirmation process in the US. This development will also accelerate the scale-up of our AXOS ingredient in the US, as supplying the US market will quickly become a priority and massive market opportunity for Carbiotix, as well as a template for AXOS ingredient scale-up in Europe.?
Participating in this accelerator will also position Carbiotix as an innovative and leading gut health company, and thus help promote AXOS and our LinkGut service to other top 10 and top 100 global food & beverage companies, in addition to leading supplement, pharmaceutical, and health & wellness companies interested in microbiome and gut health. We look forward to working closely with our PepsiCo mentors to further strengthen our strategic position in the areas of brand optimisation, product development, supply chain management, customer acquisition, and distribution. Forging long-term relationships with customers has always been a priority of Carbiotix and we plan to do the same with PepsiCo starting in 2021 and hopefully well beyond."
This is information that Carbiotix AB is obliged to make public according to the EU Market Abuse Regulation (MAR). The information was made publicly available by the company’s contact person set out below on 11 January 2021.
Forward-looking statements
This communication contains forward-looking statements, consisting of subjective assumptions and forecasts for future scenarios. Predictions for the future only apply as of the date they are made and are, by their nature, as is research and development work in the biotechnology segment, associated with risk and uncertainty. With this in mind, the actual outcome may deviate significantly from the scenarios as described in this press release.
For further information:
Carbiotix AB
Kristofer Cook, CEO
Tel: +46 (0)708-796580
E-mail: kristofer.cook@carbiotix.com
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