Latest news with #TEO
Otago Daily Times
4 days ago
- Business
- Otago Daily Times
Investor backing sought by ovine collagen company
A Christchurch biotech company extracting an innovative protein from sheepskins to make mainly health benefit and nutrition ingredients for export markets is about to launch a capital raise. Tertiary Extracts Ōtautahi (TEO) has quickly grown to 30 staff and set up a factory processing more than 550 tonnes of waste sheepskins into collagen since beginning operations last year. The company was created by four co-founders, including chief scientific officer Dr Rob Kelly, who want to build sales in the functional foods, dietary supplements and personal care sectors. Research began in 2021 to develop Ovitage — ovine collagen with a greater range of amino acids higher in cystine, tyrosine and glutamic acid — followed by marketplace testing. Initial ingredient sales to the United States, with plans to enter Europe and Asia, and TEO's launch of its own range for women encouraged the founders to seek investment to step up production. Dr Kelly said the capital raise was expected to take place within the next few months. "We are in the beginnings of business and, based on the opportunity that we see from this interest we are getting in early exports, we are looking to grow significantly. So we will be undertaking a capital raise shortly to drive this growth both in the entry of new markets and supporting further work to identify different health benefits." They wanted to ideally work with strategic investors who understood the overall sector and specifically the nutritional market, he said. They were "open and flexible" to a range of possibilities, which could include a shareholding. Initial investment came from the founders and their families and friends, with support also from Callaghan Innovation, Ārohia Innovation Trailblazer grant and the Agricultural and Marketing Research and Development Trust (Agmardt). Development research was carried out at Lincoln Agritech. Dr Kelly said they saw the main growth for the "world's most complete collagen" coming from the branded ingredient market, but had just released a finished product brand. Last October, TEO launched its Everee Women range of functional protein supplements, with different product formulations for each stage of women's lives. The range is combined with local plant extracts and biologicals to help with ageing and menopause. Another perimenopause product combines Ovitage with a kiwifruit extract for gut health, while a post-menopause product has a blackcurrant extract to help brain health and cognitive performance. Dr Kelly said women's health was a key area of focus because TEO's highly functional proteins addressed their under-served needs. TEO is a finalist in the technology innovation category for the Primary Industries New Zealand Awards and also an early-stage category finalist in the Fieldays Innovation Awards. The founders had been working in the nutritional space for many years in dietary and food supplements, particularly in the US. "The [global] collagen market is over $US9 billion [about $NZ14.9b] and still growing quickly, so we saw that New Zealand didn't really operate in it of any significance and we also saw opportunities in that market." Bovine collagen had associated environmental issues as it could come from factory-farmed beef or cattle raised on Brazilian land clear-felled of rain forest, while consumers were seeking differentiated proteins providing health benefits, he said. "So, we looked at New Zealand materials and we produce a lot of raw material for collagen in the form of sheepskins from the red meat sector which are traceable, ethically sourced and grass fed with no-one felling rain forests to grow sheep and the sheepskin has a novel material. Nobody has really looked at ovine collagens and it barely features in this massive collagen market so we undertook the research to look at that." Hundreds of thousands of waste sheepskins supplied by red meat processors would likely have gone into landfills. A novel way was developed to isolate proteins from sheepskin materials to produce the patented Ovitage process and product for ovine collagen. The amino acid profile produced a differentiated protein with greater health benefits, he said. "Those amino acids are well understood as being important in particular health areas, and these were identified through our market analysis which were not being well met by existing proteins, particularly in women's health in the menopause area and the sport nutrition area." For example, cystine aided healthy hair and nails, which was important for menopausal women, and helped with leaky gut syndrome. A higher level of branched chain amino acids assisted with building and maintaining lean body mass, particularly for ageing women and men. TEO proteins are mainly sold in powder form for overseas customers to make their own smoothies, protein bars, gummies and other formulations or turn into capsules for dietary supplements.
ITV News
4 days ago
- Politics
- ITV News
Mother and baby home victim says Executive should 'hang their heads in shame' over new proposals
A survivor of mother and baby institutions here says that the First and Deputy First ministers should 'hang their heads in shame' over Stormont legislation to establish an inquiry and redress scheme. More than 14,000 pregnant women and girls passed through the secretive institutions, with many found to have been mistreated, held against their will and forced to give up children for adoption. A bill to establish an inquiry into mother and baby homes, Magdalene Laundries and Workhouses - and an associated redress scheme - passed its first stage in the Stormont Assembly on proposals are expected to cost around £80 million. Adele Johnston who was born in a home and later sent to one when she was a pregnant teenager says those affected haven't been listened to and the Department needs to go back to the drawing of her experience in the homes she said: "It was very demeaning and demoralizing. "We were made to work, we were made to feel that we were unworthy, unfit, that we weren't fit to look after a child and that, the best place for a child was to be adopted." She had high hopes for Stormont proposals to deal with this dark period of our past, but feels let down after a meeting with the First and Deputy First Ministers on Monday. "We didn't expect all that we asked, but we did not expect it to be so brutal and it was brutal. "We were corralled into one meeting and we were dealt one body blow after another. "And we feel very badly let down by the First Minister, the Deputy First Minister and the TEO. "Actually, they need to hang their heads in shame for what they done yesterday."Concerns have been expressed that 'huge swathes' of potential applicants to a long awaited redress scheme are set to be were run by the Catholic Church, religious orders, some Protestant denominations as well as the State, with some in operation until Minister Michelle O'Neill said they hope the legislation 'demonstrates our sincere commitment to respecting and fulfilling the wishes of those who for many decades have suffered and been silenced'.The Executive Bill is to establish a statutory public inquiry and a statutory redress scheme at an estimated cost of £80 million, which includes almost £60 million in initial redress payments to cover about 6,600 eligible claimant is to receive a payment of £10,000, and a £2,000 payment will be made to each eligible family member on behalf of a loved one who has died since September 29, 2011.A further Individually Assessed Payment (IAP) for the specific harm suffered by an individual is to follow the public ministers also met with survivors of the institutions on some who attended the meeting expressed concern over those who are excluded by the legal firm KRW Law, which represents many of the victims and survivors, described 'huge disquiet over the prospective exclusion of many survivors'.They said the cut-off for posthumous claims for deceased birth mothers and children of 2011 'cuts out a huge swathe of prospective applicants', while victims of work houses appear to be excluded, and the 'blanket removal' of foster care home is also concern around the limit on the sum proposed by way of interim payment with no allowance for Aine Rice, of KRW's historic abuse team, said they reject the current proposals as 'unfit for purpose'.She said: 'So much work has been put in by many people to get to this stage only for it to be undone in one fell swoop.'There's an insensitivity underpinning all of this which makes it galling.'We reject the current proposals as unfit for purpose. More, much more, needs done to address the imbalance in play here. We need to see a complete U-turn by the time we reach the next stage of the Bill, but time is running out fast.'We are told that many are thinking of leaving the consultation forum and threatening protest.'Institution survivor Marie Arbuckle said the latest proposals are a 'kick in the teeth for many survivors'.She added: 'It seems to me that the Government hasn't listened to us properly at all.'Why do a consultation in the first place if the wishes and hopes of survivors aren't taken on board?'I don't think lessons have been learned from what happened in the south of Ireland.'The understandable drive to save money has simply gone too far, and all at the expense of the wishes of victims.'We have lost all confidence in the process we worked so hard on for the last three years.'
Otago Daily Times
4 days ago
- Business
- Otago Daily Times
Investor backing sought by bovine collagen company
A Christchurch biotech company extracting an innovative protein from sheepskins to make mainly health benefit and nutrition ingredients for export markets is about to launch a capital raise. Tertiary Extracts Ōtautahi (TEO) has quickly grown to 30 staff and set up a factory processing more than 550 tonnes of waste sheepskins into collagen since beginning operations last year. The company was created by four co-founders, including chief scientific officer Dr Rob Kelly, who want to build sales in the functional foods, dietary supplements and personal care sectors. Research began in 2021 to develop Ovitage — ovine collagen with a greater range of amino acids higher in cystine, tyrosine and glutamic acid — followed by marketplace testing. Initial ingredient sales to the United States, with plans to enter Europe and Asia, and TEO's launch of its own range for women encouraged the founders to seek investment to step up production. Dr Kelly said the capital raise was expected to take place within the next few months. "We are in the beginnings of business and, based on the opportunity that we see from this interest we are getting in early exports, we are looking to grow significantly. So we will be undertaking a capital raise shortly to drive this growth both in the entry of new markets and supporting further work to identify different health benefits." They wanted to ideally work with strategic investors who understood the overall sector and specifically the nutritional market, he said. They were "open and flexible" to a range of possibilities, which could include a shareholding. Initial investment came from the founders and their families and friends, with support also from Callaghan Innovation, Ārohia Innovation Trailblazer grant and the Agricultural and Marketing Research and Development Trust (Agmardt). Development research was carried out at Lincoln Agritech. Dr Kelly said they saw the main growth for the "world's most complete collagen" coming from the branded ingredient market, but had just released a finished product brand. Last October, TEO launched its Everee Women range of functional protein supplements, with different product formulations for each stage of women's lives. The range is combined with local plant extracts and biologicals to help with ageing and menopause. Another perimenopause product combines Ovitage with a kiwifruit extract for gut health, while a post-menopause product has a blackcurrant extract to help brain health and cognitive performance. Dr Kelly said women's health was a key area of focus because TEO's highly functional proteins addressed their under-served needs. TEO is a finalist in the technology innovation category for the Primary Industries New Zealand Awards and also an early-stage category finalist in the Fieldays Innovation Awards. The founders had been working in the nutritional space for many years in dietary and food supplements, particularly in the US. "The [global] collagen market is over $US9 billion [about $NZ14.9b] and still growing quickly, so we saw that New Zealand didn't really operate in it of any significance and we also saw opportunities in that market." Bovine collagen had associated environmental issues as it could come from factory-farmed beef or cattle raised on Brazilian land clear-felled of rain forest, while consumers were seeking differentiated proteins providing health benefits, he said. "So, we looked at New Zealand materials and we produce a lot of raw material for collagen in the form of sheepskins from the red meat sector which are traceable, ethically sourced and grass fed with no-one felling rain forests to grow sheep and the sheepskin has a novel material. Nobody has really looked at ovine collagens and it barely features in this massive collagen market so we undertook the research to look at that." Hundreds of thousands of waste sheepskins supplied by red meat processors would likely have gone into landfills. A novel way was developed to isolate proteins from sheepskin materials to produce the patented Ovitage process and product for ovine collagen. The amino acid profile produced a differentiated protein with greater health benefits, he said. "Those amino acids are well understood as being important in particular health areas, and these were identified through our market analysis which were not being well met by existing proteins, particularly in women's health in the menopause area and the sport nutrition area." For example, cystine aided healthy hair and nails, which was important for menopausal women, and helped with leaky gut syndrome. A higher level of branched chain amino acids assisted with building and maintaining lean body mass, particularly for ageing women and men. TEO proteins are mainly sold in powder form for overseas customers to make their own smoothies, protein bars, gummies and other formulations or turn into capsules for dietary supplements.
Otago Daily Times
09-06-2025
- Business
- Otago Daily Times
Christchurch biotech company seeking investors
A Christchurch biotech company extracting an innovative protein from sheepskins to make mainly health benefit and nutrition ingredients for export markets is about to launch a capital raise. Tertiary Extracts Ōtautahi (TEO) has quickly grown to 30 staff and set up a factory processing more than 550 tonnes of waste sheepskins into collagen since beginning operations last year. The company was created by four co-founders, including chief scientific officer Dr Rob Kelly, who want to build sales in the functional foods, dietary supplements and personal care sectors. Research began in 2021 to develop Ovitage - ovine collagen with a greater range of amino acids higher in cystine, tyrosine, and glutamic acid - followed by marketplace testing. Initial ingredient sales to the United States, with plans to enter Europe and Asia, and TEO's launch of its own range for women, has encouraged them to seek further investment to step up production. Kelly said the capital raise was expected to take place within the next few months with details still to be finalised. "We are in the beginnings of business and based on the opportunity that we see from this interest we are getting in early exports we are looking to grow significantly," Kelly said. "So we will be undertaking a capital raise shortly to drive this growth both in the entry of new markets and supporting further work to identify different health benefits." They wanted to ideally work with strategic investors, understanding the overall sector and specifically the nutritional market, he said. He said they were "open and flexible" to a range of possibilities, which could include a shareholding. Initial investment came from the founders and their families and friends with support also from Callaghan Innovation, Ārohia Innovation Trailblazer Grant and Agmardt. Development research was carried out at Lincoln Agritech. Kelly said they saw the main growth for the "world's most complete collagen" coming from the branded ingredient market, but had just released a finished product brand. Last October, TEO launched its Everee Women range of functional protein supplements to support women with different product formulations for each stage of their life. The range is combined with local plant extracts and biologicals to help with ageing and the menopause stage. Another perimenopause product combines Ovitage with a kiwifruit extract for gut health, while a post-menopause product has a blackcurrant extract to help brain health and cognitive performance. Kelly said women's health was a key area of focus because TEO's highly functional proteins addressed their under-served needs. He said they were excited their work was being recognised. TEO is a finalist in the technology innovation category for the Primary Industries New Zealand Awards and also an early-stage category finalist in the Fieldays Innovation Awards. Kelly said the founders had been working in the nutritional space for many years in dietary and food supplements, particularly in the US. "The [global] collagen market is over US$9 billion and still growing quickly so we saw that New Zealand didn't really operate in it of any significance and we also saw opportunities in that market." Bovine collagen had associated environmental issues as it could come from factory-farmed beef or cattle raised on Brazilian land clear-felled of rain forest, while consumers were seeking differentiated proteins providing health benefits, he said. "So, we looked at New Zealand materials and we produce a lot of raw material for collagen in the form of sheepskins from the red meat sector which are traceable, ethically sourced and grass fed with no one felling rainforests to grow sheep and the sheepskin has a novel material. "Nobody has really looked at ovine collagens and it barely features in this massive collagen market so we undertook the research to look at that." Hundreds of thousands of waste sheepskins supplied by red meat processors would likely have gone into landfills. He said a novel way was developed to isolate proteins from sheepskin materials - which had a higher follicle density than other animals - to produce the patented Ovitage process and product for ovine collagen. The amino acid profile produced a differentiated protein with greater health benefits, he said. "Those amino acids are well understood as being important in particular health areas and these were identified through our market analysis which were not being well met by existing proteins particularly in women's health in the menopause area and the sport nutrition area." For example, cystine aids healthy hair and nails, which is important for menopausal women, and helps with leaky gut syndrome. A higher level of branched chain amino acids assists with building and maintaining lean body mass for particularly ageing women as well as men. TEO proteins are mainly sold in powder form for overseas customers to make their own smoothies, protein bars, gummies and other formulations or turn into capsules for dietary supplements.
Otago Daily Times
09-06-2025
- Business
- Otago Daily Times
Biotech company seeking investors
A Christchurch biotech company extracting an innovative protein from sheepskins to make mainly health benefit and nutrition ingredients for export markets is about to launch a capital raise. Tertiary Extracts Ōtautahi (TEO) has quickly grown to 30 staff and set up a factory processing more than 550 tonnes of waste sheepskins into collagen since beginning operations last year. The company was created by four co-founders, including chief scientific officer Dr Rob Kelly, who want to build sales in the functional foods, dietary supplements and personal care sectors. Research began in 2021 to develop Ovitage - ovine collagen with a greater range of amino acids higher in cystine, tyrosine, and glutamic acid - followed by marketplace testing. Initial ingredient sales to the United States, with plans to enter Europe and Asia, and TEO's launch of its own range for women, has encouraged them to seek further investment to step up production. Kelly said the capital raise was expected to take place within the next few months with details still to be finalised. "We are in the beginnings of business and based on the opportunity that we see from this interest we are getting in early exports we are looking to grow significantly," Kelly said. "So we will be undertaking a capital raise shortly to drive this growth both in the entry of new markets and supporting further work to identify different health benefits." They wanted to ideally work with strategic investors, understanding the overall sector and specifically the nutritional market, he said. He said they were "open and flexible" to a range of possibilities, which could include a shareholding. Initial investment came from the founders and their families and friends with support also from Callaghan Innovation, Ārohia Innovation Trailblazer Grant and Agmardt. Development research was carried out at Lincoln Agritech. Kelly said they saw the main growth for the "world's most complete collagen" coming from the branded ingredient market, but had just released a finished product brand. Last October, TEO launched its Everee Women range of functional protein supplements to support women with different product formulations for each stage of their life. The range is combined with local plant extracts and biologicals to help with ageing and the menopause stage. Another perimenopause product combines Ovitage with a kiwifruit extract for gut health, while a post-menopause product has a blackcurrant extract to help brain health and cognitive performance. Kelly said women's health was a key area of focus because TEO's highly functional proteins addressed their under-served needs. He said they were excited their work was being recognised. TEO is a finalist in the technology innovation category for the Primary Industries New Zealand Awards and also an early-stage category finalist in the Fieldays Innovation Awards. Kelly said the founders had been working in the nutritional space for many years in dietary and food supplements, particularly in the US. "The [global] collagen market is over US$9 billion and still growing quickly so we saw that New Zealand didn't really operate in it of any significance and we also saw opportunities in that market." Bovine collagen had associated environmental issues as it could come from factory-farmed beef or cattle raised on Brazilian land clear-felled of rain forest, while consumers were seeking differentiated proteins providing health benefits, he said. "So, we looked at New Zealand materials and we produce a lot of raw material for collagen in the form of sheepskins from the red meat sector which are traceable, ethically sourced and grass fed with no one felling rainforests to grow sheep and the sheepskin has a novel material. "Nobody has really looked at ovine collagens and it barely features in this massive collagen market so we undertook the research to look at that." Hundreds of thousands of waste sheepskins supplied by red meat processors would likely have gone into landfills. He said a novel way was developed to isolate proteins from sheepskin materials - which had a higher follicle density than other animals - to produce the patented Ovitage process and product for ovine collagen. The amino acid profile produced a differentiated protein with greater health benefits, he said. "Those amino acids are well understood as being important in particular health areas and these were identified through our market analysis which were not being well met by existing proteins particularly in women's health in the menopause area and the sport nutrition area." For example, cystine aids healthy hair and nails, which is important for menopausal women, and helps with leaky gut syndrome. A higher level of branched chain amino acids assists with building and maintaining lean body mass for particularly ageing women as well as men. TEO proteins are mainly sold in powder form for overseas customers to make their own smoothies, protein bars, gummies and other formulations or turn into capsules for dietary supplements.
