KetamineOne Subsidiary KGK Science Helps Client Receive New Dietary Ingredient Status from U.S. FDA

Rhea-AI Summary

KetamineOne Capital Limited announces that its client, Hofseth Biocare ASA, has achieved New Dietary Ingredient (NDI) status from the FDA for its products CalGo® and OmeGo®, derived from Norwegian Atlantic salmon. This recognition places HBC among a select group of companies with successful NDI applications.

This FDA approval supports HBC's innovative extraction technology and enhances their market position. The FDA’s acknowledgment is a significant milestone as only about 30% of NDI notifications receive approval each year.

Positive

• HBC obtained NDI status for CalGo® and OmeGo®, enhancing product credibility.
• FDA's approval indicates high safety ratings for both supplements.
• The innovative extraction technology differentiates HBC in the market.

Negative

• None.

Hofseth Biocare ASA is Now Part of an Exclusive Short-List of Companies to Have Successfully Obtained NDI Status for CalGo® and OmeGo® Nutritional Supplements Extracted from Norwegian Atlantic salmon

VANCOUVER, British Columbia, Dec. 02, 2021 (GLOBE NEWSWIRE) -- KetamineOne Capital Limited (“Ketamine One” or the “Company”) (NEO: MEDI) (OTC: KONEF) (FRA: MY0), a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments, is pleased to announce that its wholly-owned contract research organization, KGK Science Inc. (“KGK” or the “CRO”), has successfully assisted its client, Hofseth Biocare ASA (HBC.OL) (“HBC” or the “Client”), to receive New Dietary Ingredient (“NDI”) status from the United States Food and Drug Administration (the “FDA”) for its patented CalGo® and OmeGo® branded products. HBC is a leading manufacturer and marketer of unique and innovative marine-derived calcium, protein, collagen, and lipid nutritional supplements.

Summary Highlights of the FDA’s NDI Process for HBC:

• The FDA’s NDI notification process is the only pre-market gate for demonstrating quality as well as safety for both ingredients and manufacturing processes.
• If the ingredient is an NDI or it has been processed in a novel way, an NDI notification is required for the US market per federal law (statute).
• Not all companies follow the US statutory obligation to file NDI notifications.
• The historical acknowledgment rate of NDI notifications by the FDA is only c. 30%.
• HBC complied with the FDA’s statutory requirement to submit NDI notifications for the dietary ingredients contained in these novel dietary supplements, and innovative technology in how these ingredients are extracted from Norwegian Atlantic salmon.
• The two letters that HBC received for CalGo® and OmeGo® are the highest safety rating and attestation the company could have received from the FDA.
• CalGo® is allowed to deliver calcium at 874 mg/day, phosphorus at 460 mg/day and marine collagen protein at 1500 mg/day
• OmeGo® is approved for up to 2000 mg/day for DHA and EPA polyunsaturated fatty acids.

HBC is now part of an exclusive list of companies that have successfully obtained NDI status with the FDA for their novel dietary ingredients contained in these two nutritional supplements. CalGo® has been assigned NDI report number 1225 and OmeGo® has been assigned NDI report number 1226. Approximately 50 NDI ingredients are reviewed annually by the FDA but historically only around 30% have received an FDA Acknowledgement (“AKL”) letter. The Client received separate FDA AKL letters, also called no-objection letters, for its two branded products based upon identity and safety within the FDA’s 75-day statutory evaluation period in which to respond.

CalGo® and OmeGo® are globally recognized, high quality nutritional supplements with patented innovative technology. Over recent years, HBC has invested a significant amount of capital to research these ingredients and developed a robust portfolio of patents and trademarks to protect its proprietary rights. It utilizes a novel, innovative, and sustainable hydrolysis technology to extract the full nutritional content from Norwegian Atlantic salmon. The FDA’s evaluation in an NDI review looked at both the identity of the source material and how it was processed, as well as the safety of the ingredients contained in the nutritional supplement products.

The Federal Food, Drug, and Cosmetic Act (“FD&C Act”) requires that manufacturers and distributors who wish to market dietary supplements that contain “new dietary ingredients” notify the FDA about these ingredients. The notification should include identity and chemistry information about the novel ingredients as well as the basis upon which the manufacturer or distributor has concluded that a dietary supplement containing an NDI will reasonably be expected to be safe under the conditions of use recommended or suggested in the labeling. (See Section 413(d) of the FD&C Act, 21 U.S.C. 350b(d).)

Management Commentary

“As a valued client of KGK, HBC has a novel and innovative technology for extracting nutritional components from Atlantic salmon in a very sustainable way. The FDA evaluated that innovative process and the ingredients contained in these two novel nutritional supplements and, in return, has offered the highest safety rating possible. These two acknowledgement letters from FDA speaks to the quality and safety of HBC’s CalGo® and OmeGo®,” said Najla Guthrie, President & Chief Executive Officer of KGK. “These FDA no-objection letters also help HBC in the global market as many countries outside of the US are looking for attestation that the FDA has reviewed nutritional supplements for safety. HBC has navigated that regulatory hurdle and can check that box,” added Ms. Guthrie.

“CalGo® is permitted to deliver calcium at 874 mg/day, phosphorus at 460 mg/day and marine collagen protein at 1500 mg/day. OmeGo® is approved for up to 2000 mg/day for DHA and EPA polyunsaturated fatty acids. The FDA’s NDI process is the highest benchmark of safety that a manufacturer or distributor of supplements can achieve. KGK has significant experience in helping its clients achieve their goals by earning these high marks of achievement and providing them with significant market distinction,” said Dr. Corey Hilmas, Chief Regulatory Officer of KGK. “Consumers and retailers are starting to understand what it means to have an NDI no-objection letter from the FDA. They can have confidence that the serving levels in these products are correctly chosen, based upon appropriate scientific methods and FDA review,” added Dr. Hilmas.

“Angelika Florvaag, Chief Quality Officer at HBC commented: “At HBC we pride ourselves in producing superior health ingredients to enhance human health and quality of life, above and beyond what is currently available in the market today. CalGo® and OmeGo® are uniquely traceably sourced from fresh, sashimi grade Norwegian Atlantic salmon. It is very exciting to see the US FDA endorse to such a degree, the safety and quality of our products with significant dosing flexibility, which will enable the products to be used in multiple formats and delivery methods for health supplementation.

ABOUT HOFSETH BIOCARE

HBC is a Norwegian is a consumer and pet health ingredient supplier and an incubator for new drug leads. Research is ongoing to identify the individual elements within its ingredients that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are focused
on developing an oral pharmaceutical lead program to treat inflammatory disease driven by eosinophils. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD ("smokers lung") as well as clinical work in COVID. Other leads are focused on the protection of the Gastro-Intestinal (GI) system against inflammation (including ulcerative colitis and the orphan condition necrotising enterocolitis) and using peptide fractions
of salmon protein hydrolysate (SPH also known as 'ProGo') as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia.

The company is founded on the core values of sustainability, optimal utilization of natural resources and full traceability. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts.

Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Palo Alto and Tokyo.

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.

ABOUT KGK SCIENCE

Founded in 1997, KGK is a leading North American contract research organization based in London, Ontario that primarily provides high-quality clinical research trials with a focus on the nutraceutical, cannabis and emerging psychedelic industries. The business has successfully helped hundreds of companies with custom designed clinical trials and claim substantiation strategies to move products into global markets. KGK’s other existing service lines include expert regulatory support and compliance solutions, participant recruitment, research support services and consulting services. On an approximate basis, the business to date has produced 150 publications, executed over 400 clinical trials across more than 40 indications, amassed 25,000 participants in its database and collected 10 million data points.

ABOUT KETAMINE ONE

KetamineOne Capital Limited (formerly Myconic Capital Corp.) is a company focused on consolidating medical clinics and becoming a North American leader in mental health treatments. It is working to provide the critical infrastructure needed to develop and deliver breakthrough mental health treatments. Currently, Ketamine One has a network of clinics across North America, with plans to further consolidate the highly fragmented industry. KGK Science Inc. is the Company’s wholly owned contract research division, which places it at the forefront of premium clinical research based on the subsidiary’s history and extensive experience in pharmaceuticals, cannabis, and the emerging psychedelic medicine industries. As a collective enterprise, Ketamine One is dedicated to helping solve the growing need for safe and accessible mental health therapy.

On behalf of:

KETAMINE ONE

"Adam Deffett"
Adam Deffett, Interim CEO

For further information, please contact:

Nick Kuzyk, Investor Relations
Tel: 1-844-PHONE-K1 (1-844-746-6351)
Email: IR@ketamine.one
Web: www.ketamine.one
Twitter: @KetamineOne

Notice Regarding Forward-Looking Information:

This news release contains forward-looking statements including but not limited to statements regarding the Company’s business, assets or investments, as well other statements that are not historical facts. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur, which may cause actual performance and results in future periods to differ materially from any estimates or projections of future performance or results expressed or implied by such forward-looking statements. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, investor interest in the business and prospects of the Company.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

SOURCE: KetamineOne Capital Limited

FAQ

What is the significance of NDI status for KONEF?

NDI status indicates that the FDA has recognized KONEF's products, CalGo® and OmeGo®, for their safety and quality, enhancing marketability.

When did KONEF receive FDA NDI status for its products?

KONEF received FDA NDI status for CalGo® and OmeGo® on December 2, 2021.

What are the daily dosage limits set by the FDA for CalGo® and OmeGo®?

CalGo® is permitted to deliver 874 mg/day of calcium and OmeGo® up to 2000 mg/day for DHA and EPA fatty acids.

How does FDA NDI status impact KONEF's market strategy?

FDA NDI status provides KONEF with a competitive edge, reassuring consumers and retailers about the safety and efficacy of their products.