Iovate signs deal to use synthesized capsaicin analogue in weight management products
Branded as aXivite, the ingredient is the first nutraceutical category offering of the Norwegian firm aXichem AB, which is based in Bergen. The ingredient is phenylcapsaicin, a chemically synthesized analogue of capsaicin. It has Novel Foods status in the EU and GRAS status in the United States.
Branded as aXivite, the ingredient is the first nutraceutical category offering of the Norwegian firm aXichem AB, which is based in Bergen. The ingredient is phenylcapsaicin, a chemically synthesized analogue of capsaicin. It has Novel Foods status in the EU and GRAS status in the United States.
Micro encapsulated ingredient claimed to show better bioavailability
The company also advertises that the ingredient, which has a similar pungency to natural capsaicin, is micro encapsulated to make it more palatable. It is also claimed to be up to eight times more bioavailable than natural capsaicin.
Iovate said in a statement that aXivite will be incorporated into different brands within the Iovate portfolio, including the number one weight management brand in the US, which has sold over 100 million units to date. The first Iovate product containing aXivite will be introduced in late 2022. In addition to the supply agreement, the parties agree to co-fund further research on aXivite.
Michigan firm to distribute ingredient
The Norwegian brand holders market their products in North America via branded ingredient firm SEE Nutrition. Based in Ann Arbor, MI, SEE Nutrition also distributes a couple of ingredients manufactured by Spanish firm Bioiberica.
“We are very excited about working with Iovate and aXichem on this project, bringing this very unique ingredient to North American consumers,” said Elias Chiatalas, CEO of SEE Nutrition.
“I am pleased that we have moved our collaboration with Iovate to the next stage and entered into this new and exciting supply and research agreement,” says Lucas Altepost, Vice President and Director of Sales and Marketing at aXichem.
The Norwegian company claims to have a study showing a reduction in body fat and an improvement in gut health markers, though that research does not appear to have been published in a peer reviewed journal.
Weight management market returning to modest growth
According to marketresearch.com the value of the US weight loss market grew about 24% in 2021, to $72.6 billion, after falling during the pandemic in 2020. The market is forecast to grow 3.6% this year, to $75 billion.
AXichem is a public company whose shares trade on the NASDAQ Nordic exchange in Stockholm. The company’s share price has fallen from a 52-week high of 30.8 Swedish kroner ($2.85) to about SEK 14.5 ($1.45) today. In late 2020 the company’s shares hit an all time high of SEK 88.9 ($8.19).
