Eevia Health Sells Retinari™ IP to Havu Health for KEUR 800

Eevia Health, a company renowned for its sustainable bioactive compounds, has taken a significant step by selling the intellectual property rights for its promising compound Retinari™ to Havu Health Oy for KEUR 800. This decision comes after Retinari™, a stilbene extract derived from upcycled pine wood, showed promising pre-clinical results in the prevention of Age-related Macular Degeneration (AMD), a leading cause of blindness among the elderly.

Despite its potential, Retinari™ faced hurdles in securing the necessary funding for safety studies, which are crucial before human trials can commence. Eevia's attempts to obtain funding from Business Finland were unsuccessful, even though the compound received high praise in international competitions, including the European Innovation Council Accelerator program.

The sale to Havu Health Oy, a startup founded by Eevia's CTO Petri Lackman, is a strategic move to ensure the compound's development continues. By transferring the intellectual property, Eevia not only recoups value from an asset that had been written down to KEUR 123 but also gains shares in Havu Health Oy, potentially benefiting from the compound's future success.

This transaction allows Havu Health to pursue further development and commercialization of Retinari™, with plans to seek development funding and engage with corporate venture funds. The agreement is carefully documented and requires third-party fair value assessment and consent from relevant boards and creditors.

For investors, this move highlights Eevia's strategic agility and commitment to its core competencies in gut and related health sectors. While the immediate financial gain from the sale is positive, the real potential lies in Havu Health's ability to bring Retinari™ to market effectively. Given the current developments, it may be prudent for investors to hold onto their Eevia shares as the company continues to streamline its operations and focus on its strengths.