New Zealand Coastal Seafoods Limited announced it has entered into a non-binding Memorandum of Understanding (MOU) with Ingredients Plus, marking an important step forward in its ongoing R&D and product development strategy and Asia-Pacific distribution expansion. Under the terms of the MoU, the Company and Ingredients Plus will work jointly on the development and distribution of a unique clinically-backed collagen product, manufactured from premium ling maw supplied by NZCS. The agreement includes a co-development plan for the product comprising of a number of principal discussion terms, including but not limited to; clinical trials, cost-sharing, product pricing, marketing, IP, exclusivity and confidentiality.

Both parties will work together with RDC Clinical, a leading clinical research organisation based in Brisbane, in order to develop a trial framework that establishes the most robust data supporting the use-case of the proposed collagen product. Additional updates on the planned clinical trial will be made as they develop. Any additional IP gained as part the of the development process will be owned by NZS, or as agreed by the parties excluding IP already held by either party in the public domain.

Clinical trial costs will be split evenly by both parties, adjusted on a pro-rata basis where government contributions (if any) are received. NZS are sufficiently funded to undertake the immediate costs of clinical trial. With an established market footprint in the region, Ingredients Plus is a leading and independent supplier that serves customers throughout Australasia and South-East Asia.

The group represents more than 20 global manufacturers and thousands of products, specialising in beauty/personal care and health, pharmaceuticals, and nutrition.