MAIDENHEAD, England, Oct 14, 2004 /PRNewswire via COMTEX/ -- Solbar Industries notified the Tel Aviv Stock Exchange (TASE) on 10th October that it had decided to set up a company called Procognia Solbar. Solbar's subsidiary will control 80% of NutriCognia, with 20% to be granted to a group of founders headed by Dr. Ofer Markman.
NutriCognia's exclusive agreement is subject to its meeting a five-year sales goal. It will initially market the systems for sugar analysis to manufacturers in key market segments: baby food, dairy products, beverages, protein-rich health foods and probiotic bacteria enriched products.
Procognia has developed a patented, proprietary and innovative technology for analyzing sugars, including glycoproteins (sugar-protein molecules) and glycolipids (sugar-fat molecules) in complex solutions. Procognia, which was chosen by the World Economic Forum as one of 30 Technology Pioneers for 2004, is applying the technology to therapeutic proteins.
Most food products contain glycosylated ingredients. Glycosylation is often responsible for taste, texture, stability, and the nutritional value of food products. However, analysis of glycosylation is important for health and safety reasons as well. Food allergies often linked to glycosylation and bacterial contamination of food products can be detected by the carbohydrates produced by the bacteria.
Dr. Markman, the inventor of the technology, will join the new venture as a Chief Scientific Officer (CSO). Six additional staff, currently employed by Procognia, will also join the new venture.
According to Dr. Markman, "The food industries face four main challenges globally: Ensuring raw materials adhere to known specifications; ensuring strict adherence to planned production stages; lowering development costs, reducing time-to-market and minimizing the impact of recalls for product innovations."
Micha Harari, Managing Director of Solbar Industries Ltd., announced the new venture and explained that the licensed technology perfectly integrates with Solbar's current activities in the food and food supplements area. He expects this novel technology to further boost Solbar's global position as a high-quality, highly innovative and respected supplier in this field.
Gary Brenner, Marketing Director for Solbar, who will lead the global marketing campaign of the new product, explains that, "Potential applications for NutriCognia's glycoanalysis system include food safety and quality control, process control, competitor product analysis and reverse engineering and design of new products."
Solbar plans to first introduce the new venture in Europe at the HI Amsterdam exhibition, 16-18 November.
SOURCE Procognia Inc.