Eevia Health (EEVIA) Status Update summary

Strategic focus and business transformation

• Refocused strategy targets gut health applications in the nutraceutical sector, emphasizing products with documented effects and moving away from commoditized, standardized extracts.

• The company is restructuring into three focused entities: gut health (Eevia Health), eye health (Retinari/Havu Health), and berry manufacturing (Baccas Salus), each with its own funding and operational focus.

• Divestments of wood-based and berry manufacturing businesses are planned to streamline operations and improve funding opportunities.

• The transformation aims to reduce personnel, shift towards product management and marketing, and divest capital-intensive activities.

Product development and scientific approach

• Gut health products leverage Arctic polyphenols, especially proanthocyanidins, to restore gut epithelial lining and support beneficial microbiota.

• Retinari, an eye health product, targets age-related macular degeneration with a non-invasive, preventive nutraceutical approach, supported by promising preclinical results.

• Collaboration with leading scientific partners and experts to substantiate health claims and support product development.

Financial performance and funding initiatives

• Revenue dropped significantly in 2024 due to the loss of a major customer, with current revenues below the €1 million per quarter profitability threshold.

• Financial targets for 2024 are €3 million in revenue and positive EBITDA, with rapid growth planned thereafter.

• Multiple funding applications are underway, including a €600,000 R&D loan and a €1 million application for Retinari's safety study.

• Actions to stabilize funding include a rights issue, inventory reduction, debt-to-equity swaps, and cash from divestments.