22 Feb 2011

Food firm sells exclusive rights offshore

9:48 am on 22 February 2011

A Manawatu food company says it's disappointing it has had to sell its technology offshore, but the global trading environment restricts its ability to commercialise it in New Zealand.

Speirs Nutritional Partners held the exclusive rights to a micro-encapsulation technology that enables omega-3 fish oil to be used in a range of food and health products without the fishy taste or smell.

The technology was developed by the Riddet Institute at Massey University but its intellectual property is about to be sold to an

unnamed listed British company for a million pounds ($2.12 million).

Speirs Nutritional Partners chairman Rodney Wong says the sale - yet to be finalised - will give the UK company the exclusive rights to use the technology around the world.