The project has been very successful, and we are already ahead of our plans in commercialization because of the work that has been performed during the project. We have managed to go from the formula SagaPro which was mostly based on mg total plant extract and a certain range of multiple chemicals in the HPLC fingerprint of the formula to a new and well-defined formula. The new NO-GO formula is based on a standardized content of the compound C-08 per capsule within a specific background of a chemical fingerprint. We have also centralized production of NO-GO, a capsulation machine is up and running, an extract dryer has been built and in-house angelica cultivation is started, and we now have 5 hectares of land that has been sowed using specific angelica seeds from areas high in C-08. Although due to Covid-19, the clinical trial did not reach the intended number of participants, the results are still good, statistically significant and show that NO-GO is a valid treatment method for overactive bladder.
We have implemented GMP in our finished product facility by designing and building a new capsulation and final product packaging facility. A method of use patent for NO-GO has been submitted domestically and internationally, as a PCT application. Finally, a commercial and tactical plan has been prepared and has already been put to good use with international distributers resulting in new customers ahead of plan.
The aim of the project is to create 21 new jobs and profits of €108 Million with ROI of 16.6 after 5 years on the market. End users will benefit from improvement of symptoms, no side effects, and ability to lead a normal everyday life. Doctors will be able to recommend NO-GO to their OAB patients, a product with no side effects, and healthcare bodies will save costs on expensive OAB prescription drugs with high dropout rates. Finally, with our sustainable approach for cultivating Angelica Archangelica we will seize this business opportunity while also preserving the Icelandic landscape, using natural resources and minimizing the impact to the ecosystem.