Norwegian biotechnology company Hofseth BioCare (HBC) inked a distribution contract with Dutch-based specialty chemicals and ingredients distributor IMCD, the company announced to shareholders.

The agreement to distribute HBC's marine branded products covers sixteen regions including the United States, Canada, most of South America, Australia, New Zealand, South Africa and Turkey.

"IMCD has a phenomenal presence globally, but particularly in North America where we expect them to have success in opening doors for our medical grade nutrition ingredients and we look forward to getting to work immediately," CEO Roger Hofseth said.