(Alliance News) - Kolinpharma Spa announced Wednesday that during the company's convention it presented its new supplement Declinex, formulated by its in-house R&D department, for which a patent application has already been filed.

Declinex, the company explained in a note, thus expands the range of products offered by Kolinpharma by introducing a new line dedicated to neurodegenerative diseases, which adds to the product lines already marketed in the orthopedic-physiatric and urological-gynecological fields. Specifically, the new product "aims to promote the well-being of the mind, improve mood and carry out a targeted antioxidant action."

The market segment referring to supplements for memory and cognitive functions, the company points out, generated more than EUR73 million in sales in April, up 4 percent from April 2022.

Rita Paola Petrelli, president of Kolinpharma, commented, "Aging represents a relevant risk factor for chronic-degenerative diseases, among them, those affecting the central nervous system, such as cognitive decline and dementia. Current estimates report that the average age of the population is continuously increasing, as is the segment of the population that is in the third and fourth ages. As of today, there are more than 1 million people with dementia in Italy, and more than three times that number are involved in patient management. It is therefore a condition that affects, and will affect, more and more people, contemplating the need to intervene, especially early, to affect the history of the disease and the quality of life of patients."

"The idea of developing a new product line, starting with Declinex, is therefore part of the strategic choice to enter a new field of nutraceutical applications. We are therefore very pleased to announce today this important step for Kolinpharma, which sanctions the will to continue the growth strategy within the sector and confirms the validity of the work of the in-house internal research and development department," he concluded.

Kolinpharma's stock is flat at EUR9.90 per share.

By Chiara Bruschi, Alliance News reporter

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