Gelteq Announces 400,000 Units Enter Production in November 2024
Gelteq Limited recently announced that in November, 400,000 units of its gel solution are entering into production. These units will fulfill orders made for clients in the US and Australia. Delivery is expected in January 2025 for sales across the two countries as well as in the UAE and in Asia. The production run includes Gelteq nutraceutical products in the areas of sports, anti-aging, and weight loss.
Gelteq Co-Founder and CEO Nathan Givoni said “Our recent IPO was undertaken to provide the necessary capital and awareness of our technology to commence larger scale sales, whilst balancing our research and development activities. To see such volumes entering production so soon after the IPO is a testament to our team executing our plans, together with market validation on our gel-based technology. This production run demonstrates our ability to sell our products to end-users across the world and our ability to begin deriving revenues in the near term.”
Gelteq Co-Founder and Executive Chairman Simon Szewach added “Earlier this year, we strengthened our partnership with Monash Innovation Labs, which allows us to effectively scale and meet our client needs, while ensuring the quality of products. The orders connected to this production run are substantial and we believe that they represent the start of even larger volume orders to come.”
Headquartered in Melbourne, Australia, Gelteq (NASDAQ: GELS) is a clinical and science-based company that is focused on developing and commercializing white label gel-based delivery solutions for prescription drugs, nutraceuticals, pet care and other products. Gelteq is focused on advancing and commercializing its delivery solutions within five core verticals: pharmaceuticals, over-the-counter medications, nutraceuticals, animal medications, and sports nutrition. Gelteq’s unique formulation directly addresses the issues associated with traditional drug delivery methods such as difficulty swallowing, taste of unpalatable ingredients, and dosage control. For more information, visit www.gelteq.com.
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