Aqua Bio Technology ASA (ABT) has entered into an agreement with DBK Pharmaceutical S.A.E of Cairo, Egypt for the distribution of Moana Skincare products in the country. Through the agreement ABT adds a territory with 95 million people to the available market for Moana Skincare. ABT has previously commenced distribution of these beauty products in European and Asian territories with a combined population of more than 1.5 billion people. DBK Pharma is ABT's second distributor in the important Middle East region, as the Company previously has established a cooperation with a cosmetics distributor in Kuwait. In Europe distribution channels are established in Scandinavia, Germany, Switzerland, Austria, Latvia, Lithuania, Estonia and Russia. In Asia ABT has secured distributors in Kuwait, India and Hong Kong. The cooperation now established in Egypt is ABT's first entry into a market on the African continent. ABT obtained its first commercial rights for the Moana Skincare series in 2017. Moana is manufactured in New Zealand, where its main active ingredients are derived from seaweed found in the South Pacific. Initially, ABT obtained the commercial rights for Europe, the Middle East and Africa (EMEA). The rights were expanded to also include certain Asian countries in 2019. "The partnership with DBK Pharma enables us to market the Moana Skincare products in a very exciting market. Not only is Egypt a large market itself, the country also has a strong influence on other markets in the region. Egypt is visited by more than eight million tourists every year and even business travel between Egypt and other countries in the Middle East is extensive," said ABT's head of global sales, Arvid Lindberg. DBK Pharma is a fast-growing Egyptian company engaged in the marketing and sales of high-end cosmetics as well as other consumer goods. The Egyptian cosmetics and personal care market is estimated at approximately NOK 30 billion and enjoys a high growth rate. "Natural skincare has an extensive history in Egypt. Our ancestors have always used natural ingredients for self-care and treatment. The Moana Skincare series has the potential of becoming a game changer in Egypt and be at the forefront of the new natural and organic brands," said DBK Pharma's Chairman, dr Hamadi Al Debeiky. For further information, please call Arvid Lindberg, head of global sales, telephone +47 9824 5410. Aqua Bio Technology (ABT) is developing and commercializing sustainable biotechnology for use in skin care products. ABT's cosmetics ingredients are highly effective and they provide the cosmetics industry with natural alternatives to traditional ingredients. ABT is also marketing and distributing natural skin care products developed by partners towards consumers and professional users. Aqua Bio Technology is listed on the Axess market of the Oslo Stock Exchange.
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