Enzymotec

Enzymotec Ltd.
Public
Traded as NASDAQ: ENZY
Industry Food industry
Founded 1998 (1998)
Headquarters Migdal HaEmek, Israel
Products

Food ingredients

Dietary supplements
Medical food
Revenue $50.39 million (2015)
$6.17 million (2015)
$6.68 million (2015)
Number of employees
 124 (2015)
Website www.enzymotec.com

Enzymotec is an Israeli speciality chemicals company

History

The company was founded in 1998 at the Naiot Venture Accelerator that markets products created from lipids from raw sources like fish and plants as food ingredients, dietary supplements, and medical food products for adults, children, and infants.[1][2][3][4] As of 2013 it was the second biggest company in the global krill oil market with a 30% market share, and was emphasizing its potential for growth in the Chinese market for infant nutrition with its lipid-based InFat food ingredient.[3]

It began selling medical food products in the US through its subsidiary, Vaya Pharma, in 2011.[1][5]

As of 2013 Enzymotec had raised $17 million and was selling products globally, and in the summer of 2013 it filed a prospectus for its initial public offering on NASDAQ, seeking to raise around $75M;[6] the IPO was held in October and raised $63M.[2]

In 2014 Enzymotec settled litigation with Canada-based Neptune Technologies & Bioressources over patents held by Neptune related to phospholipids like omega-3 oil extracted from krill oil.[7]

In 2015 shareholders filed a class action securities fraud case against Enzymotec over the IPO prospectus, claiming that the company's management had misrepresented its future profitability and the regulatory status of its products in China; most claims in the suit survived a motion to dismiss in December 2015.[8][9]

References

  1. 1 2 "Form F-1 Registration Statement Under The Securities Act of 1933". Enzymotec via SEC Edgar. July 10, 2013. Index to whole prospectus is here
  2. 1 2 "Enzymotec raises $63.5m in Nasdaq IPO". Israel High-Tech & Investment Report. October 2013.
  3. 1 2 Dionisio, Rommel; Frederick, Kurt (October 22, 2013). "Enzymotec's Formula to Success". Barron's.
  4. ↑ "ENZY:NASDAQ GS Stock Quote - Enzymotec Ltd". Bloomberg. Retrieved 20 September 2016.
  5. ↑ "VAYA Pharma Inc.: Private Company Information". Bloomberg. Retrieved 20 September 2016.
  6. ↑ Weinreb, Gali (August 25, 2013). "Enzymotec publishes Nasdaq IPO prospectus". Jewish Business News.
  7. ↑ Daniells, Stephan (April 28, 2014). "Neptune and Enzymotec finalize patent settlement and license agreement". Nutra Ingredients.
  8. ↑ Posses, Shayna (December 15, 2015). "Enzymotec Can't Shake Shareholder Suit Over $70M IPO -". Law360.
  9. ↑ "Case Page: Enzymotec Ltd. Securities Litigation". Securities Class Action Clearinghouse. Retrieved 20 September 2016.
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