Else Nutrition Holdings Inc (OTCQX:BABYF, TSX-V:BABY), the plant-based baby, toddler and children nutrition company, announced that it has just received a US Notice of Allowance on the composition of its proprietary formulation for use in functional food.
The company already holds a worldwide patent covering its plant-based Toddler and Infant formulas, and supplemental nutrition for adults including patents for the composition, which provides the necessary proteins, amino-acids and other nutrients needed in a single food serving.
“This development is of monumental importance; it paves the way for future planned product expansion beyond the baby, toddler and kids’ markets,” Else Nutrition co-founder and CEO Hamutal Yitzhak said in a statement.
READ: Else Nutrition products to launch on Kroger Ship, enabling nationwide delivery and expansion
“Our 100% plant-based solution has functional and meaningful applications to a wide range of potential consumer markets. While we remain laser-focused on the launch of our baby products, our IP can also help serve the rapidly growing $5 billion US plant-based food market, giving those in need, nutritious functional wholefood clean label offerings,” she added.
A Notice of Allowance is a document sent to a patent applicant from the United States Patent and Trademark Office (USPTO) after a patent examiner has decided to issue the requested patent.
Engagement of market maker
Separately, Else announced that it has engaged the services of Generation IACP Inc to provide services as a market maker. As consideration for the services Generation will receive a monthly fee of C$7,500 plus applicable taxes, for an initial term of six months that will be automatically renewed for subsequent six month periods.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive