"At this time, the Fund will help to address the victims' families' immediate and urgent needs. In the long-run however, we hope the Fund will be able to help employees in need of support." Neptune Technologies & Bioressources
LAVAL, QC, Dec. 11, 2012 /CNW Telbec/ - Following the incident that occurred on November 8th, Neptune Technologies & Bioressources has created the Fonds d'Entraide Neptune Technologies, a victims fund to help its employees. The Fund, in the form of a non-profit legal person (NPO) will allow raising money from companies and individuals who wish to show their support. "The victims fund created is already active. Neptune has invested more than $200,000 and has thus, among other, allowed the payment of employees' salary for the period of November 8th to November 21st. Furthermore, we were able to take over and help with quite a few urgent requests by the victims' families which included transportation to the hospitals, help with the funerals and others," added Mr. Michel Chratrand, Chief operating officer and president of the committee in charge of the constitution and organization of the Fonds d'Entraide Neptune Technologies.
Since the event of November 8th, many companies and individuals have voiced their will to help the employees. The creation of a NPO allows Neptune to raise these funds directly and to redistribute them judiciously. The structure put in place allows Neptune to better inform the business community and individuals sensitized by this tragic incident that they can send their donations made out to the Fonds d'Entraide Neptune Technologies, by mail to the following address: 545, Promenade du Centropolis, Laval, (Quebec) H7T 0A3. The fund will allow the company to address pressing needs, but also certain long-term demands from the employees in need.
About Neptune Technologies & Bioressources
Neptune is a biotechnology company engaged primarily in the development and commercialization of marine derived omega-3 polyunsaturated fatty acids, or PUFAs. Neptune has a patented process of extracting oils from Antarctic krill, which omega-3 PUFAs are then principally sold as bulk oil to Neptune's distributors who commercialize them under their private label primarily in the U.S., European and Asian neutraceutical markets. Neptune's lead products, Neptune Krill Oil (NKO®) and ECOKRILL Oil (EKO™), generally come in capsule form and serve as a dietary supplement to consumers.
Through its subsidiaries Acasti (TSXV: APO) and NeuroBio, in which Neptune respectively holds 57% and 99% of the voting rights, Neptune is also pursuing opportunities in the medical food and prescription drugmarkets. Acasti and NeuroBio respectively focus on the research and development of safe and therapeutically effective compounds for highly prevalent atherosclerotic conditions, such as cardiometabolic disorders and cardiovascular diseases, and for neurodegenerative and inflammation related conditions. Acasti's lead prescription drug candidate is CaPre®, a purified high omega-3 phospholipid concentrate derived from Neptune krill oil being developed to address the prevention and treatment of cardiometabolic disorders, including hypertriglyceridemia, which is characterized by abnormally high levels of triglycerides.
SOURCE: NEPTUNE TECHNOLOGIES & BIORESSOURCES INC.
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