12 August 2019
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update:
Salarius Files Additional Patent for MicroSalt®
Improved low-sodium salt with enhanced product adhesion
Tekcapital Plc (AIM: TEK), the UK intellectual property (IP) investment group focused on creating marketplace value from investing in university technology, is very pleased to announce that its portfolio company Salarius ltd. has filed an additional patent application #16/535,703 for MicroSalt® entitled "Improved Low Sodium Salt Composition."
The application is directed to an improved low-sodium salt that attaches to a bulk carrier with enhanced electrostatic force, to help increase adhesion to a variety of food surfaces. MicroSalt® is a proprietary salt made with micron-size salt particles that dissolve in the mouth significantly faster than regular salt, delivering an increased sensation of saltiness with much less salt, and as a result approximately 50% less sodium.
Victor Hugo Manzanilla, CEO of Salarius said, "In addition to MicroSalt's current disruptive technology which helps consumers reduce sodium consumption, we have taken a step forward to help solve a critical challenge for snack manufacturers: improving salt adhesion to their food during shipping and display."
Snack food manufacturers have continued to face major problems with inconsistent flavour and product waste, possibly losing loyal customers over time and increased manufacturing costs, from having to add more salt to each package to over-compensate for settling. By the time consumers purchase and actually open bags of salty snack foods, often inconsistent salt flavour occurs due to poor salt adhesion, with the wasted salt ending up at the bottom of the bag.
"Consumers lose taste and snack food manufacturers lose money. Manufacturers struggle to maintain a consistent flavour profile for their products across the supply chain due to the weight and poor attachment of regular salt. The new MicroSalt® technology solves this problem by increasing salt adhesion so consumers can enjoy the full flavour they expect, with up to 50% less sodium," said Manzanilla.
Market Information
The low sodium ingredient market is estimated to reach US$1.76 billion by 2025 with a CAGR 11.7%2. The highly competitive global savory snacks market is expected to reach US$108 billion by 20213.
Dr Clifford Gross, Executive Chairman at Tekcapital, commented: "We are delighted with Salarius' continued progress to enhance its intellectual property. MicroSalt® has the potential to empower companies and consumers worldwide to enjoy full-flavour snacks with reduced sodium."
Tekcapital owns 97.5% of the share capital of Salarius ltd.
About Salarius ltd
Salarius, is the developer and manufacturer of a proprietary low sodium salt called MicroSalt®. Salarius is passionate about improving lives with healthier food and is taking the lead in the industry by providing the best low-sodium salt solution, based on the mechanical transformation of the salt particle itself. This solution is the only one that delivers real salt flavor, because it is salt. The technology produces salt crystals that are approximately one hundred times smaller than typical table salt, delivering a powerful saltiness as the micro-grains dissolve in the mouth, with approximately 50% less sodium consumption. Additionally, the ultra-small particle size enhances product adhesion, which reduces waste and provides enhanced flavor consistency. To learn more please visit https://salarius.co/.
About Tekcapital plc
Tekcapital creates value from investing in new, university-developed intellectual properties and provides a range of IP investment services to make it easy for organisations to commercialise university-developed technology. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in Oxford, in the UK. For more information, please visit www.tekcapital.com
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
Tekcapital Plc |
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Via Yellow Jersey PR |
Clifford M. Gross, Ph.D. |
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finnCap Ltd (Nominated Adviser and Joint Broker) |
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+44 (0) 20 7220 0500 |
Geoff Nash/ Max Bullen-Smith (Corporate Finance) |
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Camille Gochez (ECM) |
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Novum Securities Limited (Joint Broker) |
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+44 (0) 20 7399 9427 |
Colin Rowbury (Corporate Broking) |
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Yellow Jersey Limited |
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+44 (0) 20 7933 8780 |
Tim Thompson / Annabel Atkins |
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[email protected] |
This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving Salarius that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of Salarius' management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Salarius may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Salarius neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.
MicroSalt® and SaltMe® are registered trademarks of Salarius ltd.
http://www.rns-pdf.londonstockexchange.com/rns/6164I_1-2019-8-9.pdf
Electron micrograph of new MicroSalt® crystals.
Source: Salarius Ltd.
