Trovita Health Science has entered into a global licensing agreement with US-based research and development company Galen BioScience for worldwide rights to commercialize a ready-to-drink (RTD) nutritional beverage under the brand name ENU.
ENU will be initially produced in two flavors - chocolate and vanilla - and will debut in the US by the first quarter of 2014.
As a part of this agreement, Trovita Health Science will receive worldwide license to the proprietary product formulation and will perform all manufacturing, marketing and sales of the product.
Galen BioScience, in return, will receive an upfront licensing fee and royalties of an undisclosed amount.
Both companies will continue to collaborate on new product development initiatives, including formulation of a wide variety of flavors and additional product forms, such as concentrates or powders.
Trovita Health Science chief executive officer William Brown said: "We believe that there is a significant opportunity for a product that delivers real nutrition with quality, all natural ingredients including low glycemic carbohydrates, the purest form of protein available, and healthy fats."
Galen BioScience managing member Charles Shook said: "There is broad application for the beverage, including people battling cancer weight loss or managing intolerance to gluten, and it is a perfect option for people who need a balanced, convenient source of nutrition."
