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Provexis, the business that develops, licenses and sells the proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient, is pleased to announce that it has entered into a long term strategic co-operation framework agreement (the 'Agreement') for Fruitflow with By-Health Co., Ltd. ('By-Health'), a listed Chinese dietary supplement business with a market capitalisation of approximately £5 billion.
The Agreement, which will take full effect from 1 January 2023, gives By-Health exclusive supply and distribution rights to commercialise the Company's lead Fruitflow heart-health technology in Mainland China, Hong Kong, Macau, Taiwan and Australia (the 'Territories').
Very strong development.
Again, with a ticking clock logo @
Roll on 2023….
New year high today on the back of this news? or is it considered too far away to make a huge difference to short term sp?
Fair play to Ford, I doubted we'd be breaking away from DSM in any shape or form, but we seem to have mitigated the main risk associated with that be plugging into the existing supply chain.
That basically gives us the share of the profits from China and the territories that DSM would have taken. Plainly we'll have some extra costs associated with that, but we should still be better off as a result.
It looks like some of the million raised will be used for this, rather than just to support current operational cashflow.
BB
It was obvious that the funds raised were for more than current needs. The inventory support, and probably increased personnel necessary, will use up some capital, but cutting out the middle man clearly has margin advantages.
The sp is being taken on a merry go round, we may still have a fair old wait to see Fruitflow's proper value, but the direction of travel could be near vertical once approvals are gained.
DSM needed a rocket up their arris. Be interesting to see the make up of the new agreement if it's signed.
What interested me was that it stated the agreement will come into 'full effect' from 1 Jan 23. It then states later on in the RNS:
· The Agreement commences immediately and has a term of ten years, subject to extension and termination clauses.
So what will be done in the next 12 months (other than the blue cap and further claim)? Are they going to be marketing in the interim? I seem to recall they were already but was difficult to gain traction without blue-cap status. It looks like the pieces are finally coming together (patents sorted). It maybe a slow year next year but 2023 could see lift off. More patience required but light at the end of the tunnel perhaps. These final blue-cap approvals can't come soon enough, they've been a long time coming
Still leaves Europe and Americas for someone (DSM ?)
W$
Yes, further potential for heavily promoted brands to add to revenues. Perhaps there is an unwillingness for the biggies to hook up with DSM ? Some comment in future updates relating to Provexis's marketing arm development shouldn't be ruled out IMHO
Re ' Perhaps there is an unwillingness for the biggies to hook up with DSM ?'
Good point. May well be that DSM supply is too expensive and that is holding it back. At the end of the day there are 2 tiers of profit taking on the current supply. By dealing directly with BH Provexis may be undercutting the DSM selling price.
We all agree FF is too expensive. Dropping DSM should bring the costs down significantly. Remember it's now a numbers game
1 /5 /10 million worldwide user at 0.5 p profit per dose ..........
Worth remember we were producing FF for Sirco way B4 DSM were on the scene.
The drug piece is interesting. I hope IF et al have been talking to drug companies out with china
WS
Producing is a bit strong, the lab were knocking it up in tiny volume, at a loss. The patent on the technique of extracting the active component should mean that production under licence being put out to tender is feasible.
Agree that "drug" is a game changing description, since the medical profession are so keen to prescribe them.
alf
for some reason I I thought we turned a small profit with the MM Sirco using a plant in Ireland. Could be wrong.
My point I was trying to make is 1 million doses at 0.5p profit is much better than 3K doses at 5p profit. Taking DSM out of the equation helps big time for China. Whether we stick with DSM for other territories remains to be seen, but IF has just put us in a very strong negotiating position.
W?
Yeah, it was just a discussion point, not an argument.
Fully agree about volume, the more folks who are on a daily Fruitflow tab, the more valuable the company becomes. The results of the By Health studies to date re-affirms the efficacy, this new publicity can only help other brands take notice.
I not that IF's fiecest critic has been absent today, perhaps still searching for the other half of his wits.
Great news today but how will DSM react to this I wonder.
We have just pulled Fruitflows (potentially) biggest customer from under there noses.
Indena SAS in France and Italy are/were the third party manufacturer for Fruitflow II & I and I see no reason atm why this would change but I am sure there are other manufacturers out their that could easily step in.