New Zealand Coastal Seafoods Limited announced that it has secured a non-binding Memorandum of Understanding (MoU) with Beyond Capital Limited Partnership (BCLP) to license the two provisional patents relating to the use of mussels with fucoidan as an anti-inflammatory remedy. The MoU has the potential to unlock a number of sales opportunities for NZCS in the rapidly growing global nutraceutical market. BCLP includes several limited partnerships formed with the objective of investing in New Zealand and helping NZ-based businesses grow by connecting them to Asia.

The group is based in Auckland and is focussed on opportunities across marine scientific research and natural nutrition. Under the terms of the MoU, NZCS will licence two patents from BCLP which relate to the composition, methods and uses for alleviating conditions related to chronic inflammation through the use of mussels with fucoidan. Mussels with fucoidan are an iconic Aotearoa NZ seafood product, highly valued for its unique flavour, visual appeal and anti-inflammatory properties and immune stimulationi.

Following the completion of the relevant Licensing agreements, NZCS will manufacture the mussel based products in bulk and sell them to larger nutraceutical companies. BCLP may also purchase the finished products from NZCS for the purpose of selling them under its own branding. Both parties will split the profits from all sales of the products, with the allocation to be negotiated in good faith.

Both NZCS and BCLP will take all reasonable steps to promote and market the products through their established networks across the Asia Pacific. NZCS will retain exclusive licence rights to the patent in respect of the Pacific region for 3 years subject to NZD 1 million total sales revenue being reached. NZCS will also have the first right to refusal on any licences being offered to third parties in other regions.

Strengthening the relationship, BCLP have also agreed to purchase 10kg of NZCS' recently commercialised marine collagen product. The agreement highlights the company's ongoing focus on the rapidly growing nutraceutical market and is expected to unlock a number of opportunities to increase NZCS' revenue profile.