Hosfeth Biocare

Hofseth BioCare (HBC) is a Norwegian company specializing in upcycling salmon by-products into nutritional ingredients. The company produces three main products: ProGo, a bioactive peptide powder; OmeGo, a salmon oil; and CalGo, a collagenic hydroxyapatite calcium supplement. These ingredients are derived from the cast-offs of Hofseth International's salmon business, making efficient use of the whole fish. ProGo has been shown to support healthy ferritin and hemoglobin levels without containing iron, offering a unique solution for iron supplementation claims. OmeGo is a minimally processed salmon oil that contains a full spectrum of 21 omegas and fatty acids, positioned for heart, cognitive, eye, and joint health. CalGo, made from fish bones, combines calcium and collagen for bone and joint health applications. All three ingredients have received New Dietary Ingredient (NDI) status from the US Food and Drug Administration. HBC's products are backed by scientific research, with studies demonstrating various health benefits including anti-inflammatory properties, gut health improvements, and potential respiratory health support. In 2023, the company reported a loss of NOK 100 million, a slight improvement from the previous year. For 2024, HBC aims to achieve 50% growth in sales and deliver a positive EBITDA.

Key customers and partnerships

Hofseth BioCare has been working with several research institutions to validate the health benefits of its products. The company collaborated with Stanford School of Medicine on gut health research related to its ProGo ingredient. This partnership resulted in a published paper demonstrating the benefits of ProGo's peptides in an animal model study of inflammatory bowel disease. HBC has also engaged with other academic institutions to conduct clinical trials and studies on its ingredients. In terms of commercial partnerships, the company has mentioned that Nestlé brands are among the users of its ProGo ingredient, with more launches expected beyond Nestlé in 2023. The company is also seeing growing interest in its products in the US market, especially for its CalGo ingredient in bone and joint health applications.