Neogen® Advances Food Safety Data Analytics Strategy

Rhea-AI Summary

Neogen Corporation (NASDAQ: NEOG) announced advancements in its Neogen® Analytics software, which enhances food safety through a cloud-based Environmental Monitoring Program. This software connects with AccuPoint® Advanced NG and ANSR® systems, offering real-time visibility and automated reporting for food safety compliance. Following its acquisition of Corvium, Inc. on February 10, 2023, Neogen aims to leverage this technology to streamline food safety operations. The platform has been well-received in the industry, aligning with the FDA's focus on digital solutions for food safety.

Positive

• Successful launch of Neogen Analytics software improving food safety compliance.
• Acquisition of Corvium, Inc. enhances technology capabilities.
• Platforms provide real-time monitoring and automated alerts for food safety.

Negative

• None.

LANSING, Mich., Feb. 24, 2023 /PRNewswire/ -- Neogen Corporation (NASDAQ: NEOG) has continued to report successes with the advancement of its Neogen^® Analytics software program.

The comprehensive Environmental Monitoring Program (EMP) cloud-based software, powered by Corvium, Inc., connects to both the AccuPoint^® Advanced NG and ANSR^® systems, and helps users implement food safety systems that reduce risk and elevate compliance. Customers that digitalize their food safety programs by using Neogen Analytics benefit from real-time visibility into all environmental-monitoring tests, as well as automated reporting and alerts for corrective actions. Additionally, Neogen Analytics is an open platform that aggregates food safety data and provides testing recommendations to customers based on industry best practices.

The service continues to be well-received by customers within the industry, as companies are able to standardize their environmental monitoring programs, improve efficiencies through audits, and utilize existing food safety data. This gives them the ability to quickly respond to adverse events in food production facilities, saving time and money, while also aligning with the Food and Drug Administration's "Smarter Era of Food Safety" blueprint for the utilization of digital technologies to improve food safety. To further accelerate its food safety data analytics strategy, Neogen acquired the technology platform and assets of Corvium, Inc., the Virginia-based provider of the software supporting Neogen Analytics, on February 10, 2023.

"We have seen the success of the Neogen Analytics platform and have enjoyed working with the team at Corvium throughout the development and launch of this software," said John Adent, Neogen's President and Chief Executive Officer. "We are pleased to bring their expertise in-house as we continue to drive the growth of this invaluable platform and enhance food safety practices around the world."

Corvium, Inc., launched in 2018 with the mission to use data to make the world a safer place to eat. The company's food risk intelligence platform continuously aggregates and analyzes risk and quality data generated during food production and distribution. Their solutions help food producers and processors prevent pathogenic contamination, comply with federal regulations and internal safety and quality programs, reduce food safety risks and costs, and regulate food waste.

About Neogen

Neogen Corporation develops and markets comprehensive solutions dedicated to food and animal safety, operating with the intention to "Every day, protect the people and animals we care about." The Company's Food Safety segment markets dehydrated culture media and diagnostic test kits to detect foodborne bacteria, natural toxins, food allergens, drug residues, plant diseases, and sanitation concerns. Neogen's Animal Safety segment is a leader in the development of genomic solutions along with the manufacturing and distribution of a variety of animal healthcare products, including diagnostics, pharmaceuticals, veterinary instruments, wound care, and disinfectants, as well as rodent and insect control solutions.

CONTACT: Bill Waelke, Vice President, Investor Relations
                   517.372.9200, BWaelke@Neogen.com

View original content:https://www.prnewswire.com/news-releases/neogen-advances-food-safety-data-analytics-strategy-301754875.html

SOURCE Neogen Corporation

FAQ

What is Neogen Corporation's stock symbol?

Neogen Corporation's stock symbol is NEOG.

When was Corvium, Inc. acquired by Neogen Corporation?

Corvium, Inc. was acquired by Neogen Corporation on February 10, 2023.

How does Neogen Analytics improve food safety?

Neogen Analytics improves food safety by providing real-time visibility into environmental monitoring tests and automated reporting.

What technology does Neogen Analytics use?

Neogen Analytics is powered by Corvium, Inc. and connects with AccuPoint® Advanced NG and ANSR® systems.

What is the goal of Neogen’s Environmental Monitoring Program?

The goal of Neogen's Environmental Monitoring Program is to standardize food safety practices and improve compliance in food production.