Guardion Health Sciences to Wind Down VectorVision Business Operations and Focus on Exploiting VectorVision Intellectual Property
23 Dezembro 2021 - 6:05PM
Guardion Health Sciences, Inc. (“Guardion” or the “Company”)
(Nasdaq: GHSI), a clinical nutrition company that develops
clinically supported nutrition, medical foods, and supplements,
announced that, as part of its ongoing comprehensive evaluation of
its business, it will wind down the business operations of its
VectorVision business and, instead, focus on exploiting its
valuable intellectual property and technology using a restructured
and more cost-efficient approach.
The Company is exploring both domestic and
international business opportunities, such as licensing and
distribution arrangements, with qualified parties, to assist the
Company in the economic exploitation of these intellectual property
rights, including the VectorVision patents. As a result
of this change to the VectorVision business strategy, management
believes that it will be able to better focus its efforts and
deploy capital to more growth-oriented brands and product lines,
such as Viactiv, and other products in development, that it hopes
to expeditiously bring to market in 2022. The Company expects the
wind-down to be completed by approximately March 31, 2022.
“VectorVision has been an important part of our
business strategy in prior years. However, as the Company develops
and evolves its core business, management is committed to focusing
on its mission of becoming a leading clinical nutrition company.
Management believes that it will more effectively maintain its
focus on that goal by not utilizing resources to manage peripheral
operations and products in the Company’s portfolio that do not fit
within that profile and do not generate the consistent revenue and
growth opportunities that other brands, like Viactiv, provide.
Management believes that the Company will accomplish more
meaningful results for our shareholders by being able to focus our
attention on growing the Viactiv business through its existing
product portfolio and the development of new products,” commented
Guardion Chief Executive Officer Bret Scholtes.
“Moreover, we expect significant cost savings
and the potential for utilizing the VectorVision intellectual
property rights as an additional revenue stream at nominal cost.
This development is a result of the comprehensive review that the
Company has been performing since it closed on the Viactiv
acquisition effective June 1, 2021, in order to better position the
Company for future operational improvements through organic growth
of its existing products and pipeline, and acquisitions of
compelling, clinically-supported and science-backed products,”
concluded Mr. Scholtes.About Guardion Health Sciences,
Inc.
Guardion Health Sciences, Inc. (Nasdaq: GHSI) is
a clinical nutrition company. Guardion’s portfolio of
science-based, clinically supported nutrition, medical foods, and
supplement products support healthcare professionals, their
patients, and consumers in achieving health goals. Guardion’s
commercial and developmental initiatives are supported by equally
impressive scientific and medical advisory boards, led by seasoned
business executives and medical experts with many years of
experience. This combination of expertise and scientific knowledge
forms the foundation of Guardion’s growing position within the
clinical nutrition marketplace. Information and risk factors with
respect to Guardion and its business, including its ability to
successfully develop and commercialize its proprietary products and
technologies, may be obtained in the Company’s filings with the U.
S. Securities and Exchange Commission (the “SEC”)
at www.sec.gov.
Forward-Looking Statement
Disclaimer
With the exception of the historical information
contained in this news release, the matters described herein may
contain “forward-looking statements” within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of
the Securities Exchange Act of 1934, as amended. These
forward-looking statements contain information about our
expectations, beliefs, plans or intentions regarding our product
development and commercialization efforts, research and development
efforts, business, financial condition, results of operations,
strategies or prospects, and other similar matters. Statements
preceded by, followed by or that otherwise include the words
“believes,” “expects,” “anticipates,” “intends,” “projects,”
“estimates,” “plans,” “hopes” and similar expressions or future or
conditional verbs such as “will,” “should,” “would,” “may” and
“could” are generally forward-looking in nature and not historical
facts, although not all forward-looking statements include the
foregoing. These statements are based on management’s current
expectations and assumptions about future events, which are
inherently subject to uncertainties, risks and changes in
circumstances that are difficult to predict, and involve unknown
risks and uncertainties that may individually or materially impact
the matters discussed herein for a variety of reasons that are
outside the control of the Company, including, but not limited to,
the Company’s ability to raise sufficient financing to implement
its business plan, the integration of new management team members,
the implementation of new financial, management, accounting and
business software systems, the integration of the Viactiv
acquisition and possibly additional acquisition targets, the impact
of the COVID-19 pandemic on the Company’s business, operations and
the economy in general, the Company’s ability to successfully
develop and commercialize its proprietary products and
technologies, and the Company’s ability to maintain compliance with
Nasdaq’s listing requirements. Readers are cautioned not to place
undue reliance on these forward-looking statements, as actual
results could differ materially from those described in the
forward-looking statements contained herein. Readers are urged to
read the risk factors set forth in the Company’s filings with the
SEC, which are available at the SEC’s website (www.sec.gov). The
Company disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise.
Investor Relations Contact:
CORE IR Scott Arnold 516-222-2560scotta@coreir.com
Media Relations Contact: Jules
AbrahamDirector of Public RelationsCORE
IR917-885-7378julesa@coreir.com
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