SAN DIEGO, Aug. 27, 2020 (GLOBE NEWSWIRE) — Guardion Health Sciences, Inc. (“Guardion” or the “Company”) (Nasdaq: GHSI) today announced that Ho Wah Genting Berhad (“HWGB”), a Malaysian company listed on the Malaysian Stock Exchange (KLSE:9601), has received product registration approval for Astramern Nutra V, an immune support dietary supplement designed and produced by Guardion. The approval of Astramern Nutra V by the Malaysian National Pharmaceutical Regulatory Agency (“NPRA”), which is effective through August 21, 2025, represents an important step in HWGB’s efforts to market and distribute Astramern Nutra V in Malaysia.
In early 2020, HWGB entered into a Manufacturing and Supply Agreement with Guardion for Guardion to design and manufacture two immune support dietary supplements, Astramern Nutra V, a vitamin formulation, and Astramern Nutra H, an herb formulation. HWGB’s healthcare subsidiary, Astramern Sdn Bhd, has an exclusive license to use and distribute these products in certain territories. The two products will be packaged together for sale by HWGB in Malaysia. Product registration approval of Astramern Nutra H is pending with the NPRA. Guardion fulfilled HWGB’s initial product order of $890,000 in June 2020.
Astramern Nutra V is provided in capsule form and includes several important vitamins known to support the immune system and healthy bodily function, most notably N-acetyl-L-cysteine, which helps to replenish cellular glutathione, one of the body’s most potent antioxidants.
Dr. David Evans, Ph.D., Guardion’s interim President and Chief Executive Officer, commented, “We are pleased that Ho Wah Genting Berhad has obtained product registration approval for Astramern Nutra V. Immune support dietary supplements represent a rapidly growing sector of the nutraceutical industry, and we believe that our expertise in developing and delivering unique immune support products in this sector will be a key component of future revenue growth in the United States and abroad.”
About Guardion Health Sciences, Inc.
Guardion is a specialty health sciences company (i) that develops medical foods and medical devices in the ocular health marketplace and (ii) that is developing nutraceuticals that the Company believes will provide medicinal and health benefits to consumers. 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 SEC at www.sec.gov.
About Ho Wah Genting Berhad
Ho Wah Genting Berhad (“HWGB”) is principally engaged in investment holdings and providing management services to its subsidiaries. On June 30, 2020, HWGB, through its subsidiaries, had diversified its existing businesses to include the healthcare industry, including health supplements, biotechnology and health technology. HWGB and its subsidiaries are also engaged in investment holdings; manufacturing of wires and cables and molded power supply cord sets and cable assemblies for electrical and electronic devices and equipment; trading of wires and cables; and travel agent and tour-related services.
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. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” 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 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 impact of the COVID-19 pandemic on the Company’s business, operations and the economy in general, and the Company’s ability to successfully develop and commercialize its proprietary products and technologies. 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.
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