Periodic Reporting for period 2 - NO-GO (NO-GO: UNVEILING THE POWER OF C-08 FOR THE TREATMENT OF OVER ACTIVE BLADDER)
Okres sprawozdawczy: 2020-05-01 do 2021-10-31
The first half of project NO-GO has been finalized. The objectives of the project were technical and commercial based. The technical objectives included designing a final composition of NO-GO with a standardized amount of the active compound C-08, securing manufacturing capability, scale up production and validate the NO-GO formula in a clinical setting on a large number of participants. For the commercial objectives we aimed to prepare documentation for EFSA health claims, implement GMP in the manufacturing facility, secure exploitation by getting a patent for the new formula to treat OAB and to design and implement a sale- and marketing plan that would result in global reach of NO-GO and sales reaching over 1.5 million packets in 5 years.
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.