The history of Enzymatica begins in Iceland. It is the 1970s and tons of freshly caught cod pass through the skilled hands of the people cleaning fish in the large seafood processing plants. Hands that, remarkably, are unusually soft and unscathed. Shouldn’t their skin be dry, chapped and cracked, with open wounds, considering all this fish that they handle, directly from the cold Arctic Ocean?
Researchers on Iceland finally found the explanation. An enzyme in the cod becomes active when it comes into contact with warm human skin and mucous membranes. The researchers’ work gradually led to a patent for the enzyme and in 2007 Enzymatica signed an agreement for the development and sale of products based on the enzyme. Since then Enzymatica has developed a number of products in which the enzyme is an important sub-component for creating effective barriers against viruses.
In 2019 Enzymatica took a strategic decision to broaden the use of its enzyme technology in order to better leverage its commercial potential and introduced a broader product portfolio. Enzymatica entered into an agreement with its German partner STADA regarding sales of a new mouth spray for the German market. The Company also signed an agreement with the German company Maren Cosmetics to deliver an enzyme formulation to their skin care products, as well as a corresponding agreement with Dr Bragi Company Ltd for the Chinese market. In 2019 ColdZyme became the third largest cold brand in Sweden. Enzymatica also strengthened the documentation for ColdZyme with several product claims and introduced the new strawberry flavor.
In 2018 Enzymatica entered into new distributor agreements for the sale of ColdZyme® in Japan, Hong Kong & Macau and South Africa. The company conducted several clinical studies on ColdZyme with successful results. Enzymatica conducted a prospective, controlled multicenter study on ColdZyme in Germany. The study showed a significant reduction of both cold symptoms and duration with use of ColdZyme, as well as reduced use of symptom-relieving drugs, compared with a control group that did not use ColdZyme. The most striking effect of ColdZyme proved to be a significant improvement in quality of life due to milder cold. At the end of the year the company raised SEK 98.7 million before issue expenses through a rights issue to finance continued clinical studies and international expansion.
In 2017 Enzymatica achieved its international breakthrough by signing a contract with the German pharmaceutical company STADA for sales of ColdZyme in Germany, Austria and Belgium. Enzymatica also strengthened the documentation on ColdZyme and published several clinical studies. In addition, the company carried out an in vitro study which demonstrated ColdZyme’s ability to deactivate the most common cold viruses. Enzymatica also filled several strategic positions including Chief Commercial Officer, Chief Operating Officer and Chief Financial Officer.
Enzymatica acquired the Icelandic company Zymetech. This acquisition gave Enzymatica international exclusive rights to the patent-protected enzyme that is a key component of ColdZyme. Enzymatica also gained control over production of the enzyme, as well as access to international research and development expertise and Zymetech’s research portfolio. Enzymatica raised a total of about SEK 100 million before issue expenses through two rights issues to finance the company’s operations, as well as to be able to implement its expansion strategy and to attract new long-term investors.
Enzymatica entered into a distribution agreement with Endeavour Consumer Health for Australia and New Zealand. The agreement, which is the first outside the EU for Enzymatica, requires regulatory approval of the product documentation before the product can be launched. Enzymatica also signed a distribution agreement with Life NLB Ltd for Greece and Cyprus. Bengt Baron was elected to serve as the new chairman of Enzymatica.
Fredrik Lindberg took over as CEO on February 16, 2015. ColdZyme® One Cold 7 ml was launched and Swedish pharmacies began to sell this smaller package. During the second quarter we also signed an agreement with A-Apoteket in Denmark, which meant that we were represented at the two largest pharmacy chains in the country, as well as the health products chain Matas. On June 15 Enzymatica’s shares were admitted for trading on Nasdaq First North. In October an agreement was signed with the pharmacy chain Lloyds to sell ColdZyme in the UK and in November a distribution agreement was signed with both Tamro for the Finnish market and Esteve for the Spanish market.
Norway, Denmark and the UK are the first markets outside Sweden. ColdZyme became the autumn’s best-selling single cold remedy (SKU – Stock Keeping Unit) at Swedish pharmacies in terms of money. The organization grew and the company prepared for operations as a listed company and on international markets. A rights issue raised funds to ensure a continued high growth rate. Veterinary products were completed.
ColdZyme Mouth Spray for colds was launched at pharmacies in Sweden. Agreements were signed with all pharmacy chains. The first pilot clinical study, COLDPREV, was carried out with positive findings.
ColdZyme Mouth Spray was registered as a medical device, after safety and performance were proven. Enzymatica engaged scientific advisors.
Enzymatica was listed on AktieTorget. The global agreement with Zymetech was extended to 2021.
The first product was listed at Swedish Chemical Agency as a cosmetics and hygiene product and was sold in health stores under the ColdZyme brand. The product was a mouth spray against viruses in the mouth/throat.
Enzymatica was founded. The same year, an agreement was signed with Icelandic Zymetech for global rights to develop and sell products containing a patented enzyme from deep-sea cod.