TerraVia and Nestlé Purina Announce Joint Development Agreement
To Work Together to Bring Algae Ingredients to Companion Animal Health and Wellness
SOUTH SAN FRANCISCO, Calif. & SAINT LOUIS – TerraVia, Inc. (NASDAQ: TVIA) a pioneer in algae based food nutrition and specialty ingredients, and Nestlé Purina PetCare, a premiere global manufacturer of pet products, today announced entering into a joint development agreement targeting the companion animal market. The agreement, which spans multiple years, will leverage certain commercially available algae-based advanced nutrition ingredients that TerraVia has developed as well as additional innovative ingredients and product concepts in TerraVia’s development pipeline.
Algae is the mother of all plants and earth’s original super food, and is a highly sustainable source of critical nutrients providing health benefits to both humans and animals. TerraVia has spent over a decade pioneering a broad range of algae-based ingredients including a line of healthy oils and lipids, whole algae proteins, omega-3 based ingredients and other products.
“TerraVia is a leader in algae nutrition innovation, and at Nestlé Purina we are always seeking out new ingredients to advance pet nutrition to help them live better, more active lives. We are excited about the potential impact these algae-based ingredients can make in the health and the lives of pets,” said Daniel Smith, Vice President of R&D, Nestlé Purina.
“We are excited to partner with Nestlé Purina, a global leader and innovator in pet care and nutrition, to help develop the next generation of nutritious, sustainable pet foods that are better for the planet and the pets that we all love,” said Jonathan Wolfson, Chairman and CEO of TerraVia. “TerraVia and our strategic partners are already demonstrating the impact our algae innovation platform has in the culinary, specialty feed ingredient and personal care categories. Our new partnership with Nestlé Purina builds on these successes by leveraging our innovative platform to open important doors into a very large market for companion animal nutrition.”
About TerraVia™
TerraVia™ is a next generation food, nutrition and specialty ingredients company that harnesses the power of algae, the mother of all plants and earth’s original superfood. With a portfolio of breakthrough ingredients and manufacturing, the Company is well positioned to help meet the growing need of consumer packaged goods and established and emerging food manufacturers to improve the nutritional profile of foods without sacrificing taste, and to develop select consumer brands. The Company also manufactures a range of specialty personal care ingredients for key strategic partners. Headquartered in South San Francisco, the Company’s mission is to create products that are truly better for people and better for the planet. For additional information, please visit TerraVia’s website at www.terravia.com.
About Nestlé Purina PetCare
Nestlé Purina PetCare promotes responsible pet care, community involvement and the positive bond between people and their pets. A premiere global manufacturer of pet products, Nestlé Purina PetCare is part of Swiss-based Nestlé S.A., a global leader in nutrition, health and wellness.
For further information: TerraVia: Genet Garamendi, press@terravia.com
Nestlé Purina PetCare
: Keith Schopp, keith.schopp@purina.nestle.com