Evolva - Evolving the sales model

Evolva has signed a distribution agreement to jointly develop the Brazilian market for resveratrol with its new partner, Tovani Benzaquen, a distributor of food and functional ingredients. Management expects revenues to exceed CHF1.5m over the next 2.5 years. The distribution agreement opens the Brazilian market for resveratrol, thus should result in an uplift in revenue expectations for the product. If successful, we believe the distribution agreement could be extended to other markets in Latin America and the model could eventually be rolled out to new markets in Asia, for example. We believe this is a significant step in Evolva’s commercialisation capabilities under new CEO Christian Wichert, as he instils a sense of urgency into the business and transitions the company to a fully product-based commercial model.