SIVA award 2020 goes to Arctic Nutrition AS
On May 27th , the Minister for Industry and Trade, Iselin Nybø, awarded the biotechnology company, Arctic Nutrition, the Siva Award for 2020. The award comes with a stipend of 250,000 NOK (≈ US $25,000) which the company will dedicate to research on normalising brain development in infants born prematurely.
The SIVA award 2020 goes to Arctic Nutrition for the company's highly innovative work on the development of medicinal treatment of psoriasis, says Iselin Nybø, Minister for Industry and Trade.
This is the fifth year, Siva (the Company for Industrial Growth) has awarded their namesake award to highlight Norwegian companies dedicated to innovation, strong results, and ambitions for growth and adding value. Every year, companies that develop innovative products, services, production methods, processes and solutions that contribute to the green change. This year, 26 companies were nominated, and Arctic Nutrition was selected by the jury as the winner.
Development of medicine for psoriasis based on Herring Roe Oil
Arctic Nutrition has developed a variant of high concentrated marine Herring Roe Oil phospholipids investigated in a clinical study at Haukeland University Hospital. The results show that the group of psoriasis patients who received Herring Roe Oil achieved a significantly larger improvement in their psoriasis than the group who received placebo. The study was published in Acta Dermato-Venereologica this week.
Ole Arne Eiksund, CEO of Arctic Nutrition, is pleased with both the positive clinical study results and for the SIVA award:
The results of the psoriasis study in Bergen confirm that we have decided to implement a new drug, and we plan to build factory in Ørsta, Norway to control as much of the value chain as possible. The Siva award is a big boost. We also have great support from Innovation Norway for the pharmaceutical drug development.
Sustainability throughout the value chain
As a forward-thinking, innovative company, we are committed to sustainability throughout the entire value chain. Herring fishing off the Norwegian West Coast is quota regulated and sustainable. When using the herring roe, we can ensure the drug manufacturing process is as gentle and environmentally conscious as possible. We are honoured to be recognized for our use of a raw material that has thus far not been utilized. It is exciting to also be a part of the green transition in the industry, says Eiksund.
Innovation in the health industry
Karita Bekkemellem, CEO of the Norwegian Pharmaceutical Trade Association commented on the SIVA award:
Arctic Nutrition is a great example of the possibilities when a company dares to take a risk. Herring roe is a unique raw material from the sea that comes from sustainable fishing and can be refined to the benefit of millions of people globally.
Healthcare companies like Arctic Nutrition can create new jobs, contribute to better health and at the same time provide Norway with increased export earnings. I am pleased that SIVA recognizes the company by giving them the Siva Award for 2020 - this is exactly what the industry in Norway needs in the years to come.
Need for capital for further clinical trial program
We have the plan ready. Now we need capital to implement the plan, says Eiksund.