Last checked at 11 Mar 2021 07:00
11 March 2021
Tekcapital Plc
("Tekcapital", the "Company" or "the Group")
Portfolio Company Update: Salarius, Ltd. ("Salarius")
Tekcapital Plc (AIM: TEK), (OTCQB: TEKCF) the UK intellectual property investment group focused on creating valuable products from investing in university technology, is very pleased to announce that portfolio company Salarius Ltd. has appointed board member Eduardo Souchon as V.P. of Business Development and Jay Shah, M.D. as a medical Advisor to its science advisory board.
Eduardo Souchon is a business and brand/marketing executive with a 20-year track record in taking businesses focused on snacks (Pringles®), health related products and office supplies to breakthrough financial and market success in the CPG and retail industry. Eduardo has significant end-to-end experience in brand building, innovation, and strategy with Procter and Gamble and Office Depot.
"As a director of Salarius, I am passionate about the mission of Salarius, and its potential to improve people's lives with healthier, low-sodium foods. Victor has assembled a terrific team and I am very glad to join it in an operating role, focused on B2B sales. The potential of the business is significant," said Eduardo Souchon.
Dr. Shah comes to the team with more than a decade of experience in cardiovascular medicine, and currently serves as a senior associate consultant with the Mayo Clinic and assistant professor at Mayo Clinic Alix School of Medicine.
"As an investor and advisor, I look for ideas and companies that have the potential to impact our world in a meaningful way," Dr. Shah said. "MicroSalt is poised to be part of a larger solution to reducing our consumption of sodium and the negative health consequences associated with our excessive intake of salt."
MicroSalt aims to revolutionize the food industry with a patented sodium nanoparticle engineered to deliver the full flavor experience of salt with half the sodium. MicroSalt's powdered salt particles are approximately 100 times smaller than regular table salt, allowing them to be rapidly dissolved. MicroSalt® is all-natural, non-GMO, and Kosher.
"We're excited to add Eduardo Souchon and Dr. Shah to our team," said Victor Hugo Manzanilla, CEO of MicroSalt. "Souchon's experience managing one of the largest snack food brands in the world and Dr. Shah's knowledge as a cardiologist, together should enhance the future growth and development of MicroSalt."
About Salarius Ltd.
Salarius, is the developer and manufacturer of a proprietary low-sodium salt called MicroSalt®. We are passionate about improving peoples' lives with better-for-you snacks by taking the lead in the industry by providing the best low-sodium salt solution, based on the mechanical transformation of the salt particle itself. This solution is the only one that delivers real salt flavor because it is salt. Our new patented technology produces salt crystals that are approximately one hundred times smaller than typical table salt, delivering a powerful saltiness as the micro-grains dissolve in the mouth, with approximately 50% less sodium consumption.
Additionally, the ultra-small particle size enhances product adhesion, which reduces waste and provides improved flavor consistency. MicroSalt® and SaltMe® are registered trademarks of MicroSalt Inc.
To learn more please visit https://Salarius.co.
Tekcapital owns 97.2% of the share capital of Salarius Ltd. Microsalt Inc. is an 87.1% owned U.S. subsidiary of Salarius Ltd.
About Tekcapital plc
Tekcapital creates value from investing in new, university-developed discoveries that can enhance people's lives and provides a range of technology transfer services to help organisations evaluate and commercialise new technologies. Tekcapital is quoted on the AIM market of the London Stock Exchange (AIM: symbol TEK) and is headquartered in the UK. For more information, please visit www.tekcapital.com.
LEI: 213800GOJTOV19FIFZ85
For further information, please contact:
Tekcapital Plc | Via Flagstaff IR | |
Clifford M. Gross, Ph.D. | ||
SP Angel Corporate Finance LLP (Nominated Adviser and Joint Broker) | +44 (0) 20 3470 0470 | |
Richard Morrison / Charlie Bouverat (Corporate Finance) Abigail Wayne / Rob Rees (Corporate Broking)
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Flagstaff Strategic and Investor Communications +44 (0)207 129 1474
Tim Thompson/Andrea Seymour/Fergus Mellon
This press release is for informational purposes only. The information herein does not constitute investment advice nor an offer to invest and may contain statements related to our future business and financial performance and future events or developments involving Salarius that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate" "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to customers, stakeholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements may be based on the current expectations and certain assumptions of Salarius' and/or Tekcapital's management. Please note that these are subject to a number of risks, uncertainties and factors, including, but not limited to those described in various disclosures. Should one or more of these risks or uncertainties materialize, or should underlying expectations not occur or assumptions prove incorrect, actual results, performance or achievements of Salarius or Tekcapital may vary materially from those described explicitly or implicitly in the relevant forward-looking statement. Neither Salarius nor Tekcapital intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.