What Primex does

Primex ehf is an Icelandic marine biotechnology company founded in 1999 and headquartered in Siglufjörður, Iceland. The company operates a single chitosan manufacturing plant in North Iceland, sourcing raw material from Pandalus borealis (North Atlantic cold-water shrimp) shells and converting it into chitosan via proprietary deacetylation processing. It is a wholly-owned subsidiary of Úsfélag hf., a publicly listed company on Nasdaq Iceland. Primex self-describes as the largest consumer-product chitosan manufacturer in the world.

The product portfolio is organized under four trademarks: ChitoClear® (pure chitosan powder/flake/liquid in bulk and white-label formats for pharmaceutical, cosmetic, and biomedical customers), LipoSan Ultra® (a proprietary fat-binding dietary fiber formulation marketed as a weight management ingredient and sold as capsules, fibers, and the patented taste-masked LipoSan Micro), ChitoCare® (CE-marked medical devices — Wound Healing Gel, Healing Spray, Scar Healing Gel — plus the ChitoCare Beauty consumer skincare range), and SeaKlear® (chitosan-based natural water treatment for pools, hot tubs, and spas). Production is supported by ISO 22000:2005, Tún Certified Nature, Halal, and Marine Stewardship Council certifications.

Commercially, Primex runs a three-channel model: (1) B2B bulk ingredient and white-label/private-label supply to manufacturers in pharma, cosmetics, nutraceuticals, agriculture, and water treatment, served through three warehouses (Siglufjörður, Portland ME, Rotterdam) and Asian distributors; (2) D2C finished products through owned e-commerce storefronts ChitoCarebeauty.com and LipoSan.com, primarily for medical devices and dietary supplements; and (3) event-driven demand generation via annual participation at Vitafoods Europe. Pricing for bulk ingredients is quote-based and not publicly disclosed, while finished consumer SKUs carry listed pricing on the D2C sites.

Name

Primex

Legal name

Primex ehf

Website

https://primex.is

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

11–50 employees

Short description

Primex ehf is an Icelandic marine biotechnology company that manufactures pure chitosan from North Atlantic shrimp shells, supplying bulk ingredients and white-label solutions to pharmaceutical, cosmetic, and nutraceutical manufacturers, and selling finished medical devices, dietary supplements, and water treatment products under ChitoClear®, LipoSan Ultra®, ChitoCare®, and SeaKlear® brands.

Ownership category

akta.pro rank

Product category

Marine Biotechnology Ingredients

NAICS

Seafood Product Preparation and Packaging (311710), Food Manufacturing (311)

SIC

Medicinal Chemicals & Botanical Products (2833), Miscellaneous Food Preparations & Kindred Products (2090)

akta.pro primary industry

Seafood By-Products & Fishmeal/Fish Oil Processing (Rendering, Hydrolysates, Collagen) (AFANADAJ)

akta.pro secondary industries

Specialty Seafood Co-Products Processing (Roe, Milt, Heads, Frames, Shellfish Meat Recovery) (AFANAJAI), Hydrocolloids, Thickeners & Gelling Agents (Pectin, Xanthan, Carrageenan, Gelatin) (CRADAOAD)

Keywords

• Chitosan manufacturing
• Marine biotechnology
• Wound care medical devices
• Dietary supplement ingredients
• White label nutraceuticals

Headquarters

HQ city

Siglufjörður

HQ country

Iceland

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Bulk Chitosan Ingredient Sales: Sale of high-quality chitosan powder and ingredients in bulk to manufacturers in pharmaceutical, cosmetic, food, and agricultural industries. Customers can purchase chitosan in various formats including powder, flakes, and liquid forms.
2. White Label / Private Label Solutions: Primex offers white label and private label manufacturing solutions for customers looking to create their own chitosan-based products including weight management supplements, skincare products, and health products.
3. Finished Consumer Products: Direct-to-consumer sales through own e-commerce stores including ChitoCare Beauty (skincare and medical devices) and LipoSan (dietary supplements). Products include ChitoCare Medical Wound Healing Gel, Scar Healing Gel, Healing Spray, Hair Skin & Nails supplements, and LipoSan weight management products.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Primex manufactures and distributes pure chitosan ingredients derived from North Atlantic Pandalus borealis shrimp shells from its Iceland facility. It sells chitosan in bulk powder, flake, and liquid formats to pharmaceutical, cosmetic, nutraceutical, agricultural, and water treatment manufacturers; offers white label and private label manufacturing for chitosan-based consumer products; and markets finished branded goods including ChitoCare® Medical wound healing devices, ChitoCare® Beauty skincare supplements, and LipoSan Ultra® weight management supplements via owned e-commerce stores.

Product overview

Primex is an Icelandic marine biotech company and global leader in sustainable production of high-quality chitosan. The company operates a state-of-the-art chitosan factory in Siglufjörður, Iceland, producing chitosan from North Atlantic shrimp shells (Pandalus borealis). The product portfolio centers on four main brands: ChitoClear (pure chitosan powder for industrial/b2b use), LipoSan Ultra (dietary supplement for weight management), ChitoCare (skincare and medical devices sub-brand including Wound Healing Gel, Healing Spray, and Scar Healing Gel), and SeaKlear (natural water treatment for pools and hot tubs). The core technology is chitosan, a bioactive fibrous biopolymer with applications across pharmaceuticals, cosmetics, food supplements, agriculture, and water treatment.

Differentiator

Problem solved

Functional benefit

Brands

• ChitoClear: Pure chitosan ingredient for biomedical applications and personal care products
• LipoSan Ultra
• SeaKlear
• ChitoCare
• ChitoCare Beauty
• ChitoCare Medical

Products and services

• ChitoClear® Pure Chitosan Powder Pure chitosan powder derived from North Atlantic Pandalus borealis shrimp shells, marketed as the purest chitosan available. Odorless, colorless, allergen-, virus-, and contaminant-free. Sold in bulk to manufacturers in pharmaceutical, cosmetic, food, and agricultural industries in powder, flake, and liquid formats.
• LipoSan Ultra® Dietary Supplement Ingredient Proprietary chitosan-based dietary fiber formulation that complexes and binds dietary fats in the digestive system for weight management applications. Clinically proven to significantly reduce body weight with rapid solubility (over 90% working within 3 minutes in stomach acid). Sold as an ingredient for capsules, powders, and food applications, and also through white label and private label manufacturing services.
• ChitoCare® Medical Wound Healing Gel CE-marked topical gel medical device for acute and chronic wounds and other skin conditions. Contains natural chitosan with film-forming, protective, and healing properties; effectively reduces chronic wounds, protects against infections, heals wounds and burns, reduces redness, itching, and pain, helps reduce bleeding, minimizes scarring, and promotes natural skin healing.
• ChitoCare® Medical Healing Spray CE-marked topical spray medical device for irritated and damaged skin. Creates a protective chitosan film that heals minor wounds and burns, reduces redness, itching, and pain, and relieves minor burns and sunburns while promoting natural skin healing.
• ChitoCare® Medical Scar Healing Gel CE-marked topical gel medical device for treatment of new and old scars. Provides soothing effect, supports scar tissue healing, and minimizes scar formation using chitosan film technology.
• ChitoCare Beauty Hair, Skin & Nails Natural marine dietary supplement combining LipoSan Ultra chitosan fibers with hydrolysed fish collagen Type II, algae, silica, Vitamin C, zinc, selenium, magnesium, and calcium to support hair, skin, and nails. Sold direct-to-consumer through the ChitoCare Beauty e-commerce storefront.
• LipoSan Fibers & Vitamin C Higher-density, higher-solubility formulation of LipoSan Ultra mixed with Vitamin C for weight management. GMP and Halal certified. Dissolves within three minutes in the stomach. Sold direct-to-consumer via the LipoSan webstore.
• LipoSan Micro Patented micro-coated chitosan formulation that removes taste and can be added to food in micro-granulated dust form for fat neutralization in weight management applications. Sold via the LipoSan webstore.
• SeaKlear® Water Treatment Solution Certified natural chitosan-based water treatment solution for swimming pools, hot tubs, and spas. Uses chitosan as active ingredient for water clarification, purification, and pollutant elimination. Demonstrated to reduce chlorine usage by up to 40%.
• White Label / Private Label Chitosan Manufacturing Service White label and private label chitosan-based manufacturing services for brand owners seeking to create their own chitosan-based products including weight management supplements, skincare products, and health products. Quotations provided on a project basis through direct contact.

Quantifiable outcome

• LipoSan Ultra® clinical study showed 1 kg weight loss vs 1.5 kg weight gain in placebo group over 8 weeks at 3g daily dose
• +2 more outcomes

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Asian DistributorscoreChannel Partner/ Reseller/ DistributorPrimex has established distributor relationships in Asia to serve customers throughout the region for all chitosan powder, bulk, and white label product needs. Distributors provide local sales and support capabilities.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Coloplast: Global leader in wound care, ostomy, and continence care medical devices. Broad incumbent in the advanced wound-care segment where ChitoCare® Medical Wound Healing Gel is positioned; sets the procurement and clinical-evidence bar Primex must clear to win hospital share.
• Ingredion: Global ingredient solutions provider supplying texture, sweetness, and functional ingredients to food, beverage, and personal care manufacturers. Broad incumbent that competes with Primex's ChitoClear® for hydrocolloid/texturizer formulary slots in CPG applications.
• International Flavors & Fragrances (IFF): Global ingredients major formed via the DuPont Nutrition & Biosciences merger, supplying functional ingredients, cultures, and texturizers to food, beverage, and personal-care customers. Broad incumbent whose scale and customer reach could pressure niche chitosan suppliers like Primex in CPG accounts.
• Smith+Nephew: Global medical-device company with a large advanced wound-care portfolio (Allevyn, PICO, etc.). Broad incumbent that competes with ChitoCare® Medical for hospital and home-care wound-care formulary inclusion.
• Tate & Lyle: Global specialty food and beverage ingredients company with a strong hydrocolloid and texturizer portfolio. Broad incumbent competing with Primex in food, beverage, and nutraceutical formulation slots that could absorb chitosan sourcing.

Direct peers

• Natural Chemistry: US manufacturer of enzyme-based and natural pool/spa water-treatment products including clarifiers and algaecides. Competes with Primex's SeaKlear® in the natural pool-care retail and pro channels.
• Tidal Vision: US-based chitosan manufacturer producing chitosan from Pacific Northwest crab and shrimp shells for water treatment, agriculture, food, and industrial applications. Direct competitor to Primex in the bulk chitosan ingredient market with overlapping end-markets and a similar shell-derived feedstock model.
• Marine Polymer Technologies: US developer of chitosan-based hemostatic and wound-care products (poly-N-acetyl glucosamine platform). Closest direct competitor to ChitoCare® Medical wound-healing and hemostatic applications using a marine-derived biopolymer technology base.
• Heppe Medical Chitosan: German specialty chitosan manufacturer serving pharmaceutical, medical, cosmetic, and food applications with a broad portfolio of chitosan grades. Most direct European competitor to Primex's ChitoClear® business in regulated, high-purity chitosan markets.
• BioSafe Systems: US natural water-treatment and agricultural product manufacturer using chitosan and other bio-based chemistries for pool/spa, agriculture, and industrial water markets. Direct competitor to Primex's SeaKlear® brand in natural pool and spa water treatment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Primex