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The price seems to be picking up. Hopefully we'll break clear of the 1p mark now.

I suspect Nestle will be launching in China, as they are part of a Union with By-Health that aim to address national health concerns inline with HC2030. Also, it's likely that they are involved with DSM on the gut health side of things. I'm hoping Nestle are launching a GLP-1 companion product, as that appears to be the hottest area.

Indena.

Will be nice to break away from sub 1p and hopefully never see it again.

They kind of miss that BH strategy is to become a United Nations of high quality scientific backed ingredients. They will be a hub for these ingredients in China. Fruitflow will crest a new category for cardiovascular products and be a step in BH moving away from being just a VDS company.

PXS/BH are taking the ingredient to China, not just BH products. The main driving force is to address the risks in the HC2030 policy. BH cannot do that alone.

We know what Gixer posted, which was that 2 products have now passed technical review and moved to Onsite Verification stage. After that is the final stage, Administrative Review.

This means that the risk of rejection is now very low, and it will likely be fully approved by mid February, if not earlier. It could be anytime now, but more likely to be late Jan or early Feb.

So yes, somebody does know something.

This is what they are talking about on Chinese share chat for BH too.

Of course, it’s the Chinese state, it will be approved when it’s approved. However, Onsite Verification and Administrative Review are typically time-bound and quite routine. It’s nothing new to By-Health.

Some larger buys this morning.

Https://caifuhao.eastmoney.com/news/20260109141249036472310?from=guba&name=5rGk6Iej5YCN5YGl5ZCn&gubaurl=aHR0cHM6Ly9ndWJhLmVhc3Rtb25leS5jb20vbGlzdCwzMDAxNDYuaHRtbA%3D%3D

It’s like Déjà vu all over again.

This rise doesn't seem to be a false dawn, it's based on the links Gixer posted that show Technical Review has completed and the products have now gone for Administrative Review, which has standard SLA and is low risk.

Surely we'll go beyond 2p when news comes. I suppose it all comes down to how much they give away in the update. Time will tell. I am hoping by 30th January.

BH have explicitly gone down the FF route to address particular CVD risks in the HC2030 policy, investing 10 years on a multiple millions. It seems likely that the whole SAMR process was changed to accommodate FF in this task, given that no other companies have applied to date.

We know that adding a few products to shelves doesn't do anything for reducing the risks in HC2030 policy. Therefore, it has always been my expectation that the state will now need to push to address the risks. Well, as predicted that is now the state plan for the next 5 years.

https://en.nhc.gov.cn/2025-10/28/c_86530.htm#:~:text=BEIJING%20%2D%2D%20China%20aims%20to,top%20health%20official%20on%20Friday.

They will be pushing for nutrition and supplements that can help, and FF will now have a monopoly on Blood Flow. So when they address the blood flow risk, we have the solution :). BH did say that there are specific risks related to platelet aggregation and development of CVD that they aimed to address..

It's time to be feeling very positive.

Also we need to consider that the DIC( Doxorubicin Induced Cardiotoxicity) IP is probably worth a fortune in future. If that passes stage 1 and stage 2 drug trials, it could be worth hundreds of millions. If PXS/DSM complete phase1, 2, then they would be able to partner with the likes of Pfizer to start phase 3 trials. According to Gemini, if this happens, then it would be fairly normal for the Pharma company to make an UPFRONT licence agreement payment of £200m to £500m.

Doxorubicin is an off-label chemo drug that is used extensively around the world. The issue is that it causes cardiotoxicity (heart damage) to some degree in a large percentage of patients. As the dose moves up, so does the potentially deadly heart damage. Along comes Fruitflow in this area, significantly reducing cardiotoxicity and associated heart damage according the very successful pre-clinical trial. This is a huge opportunity for a high value solution that could dramatically improve patient outcomes. The value to PXS/BH would be very high because there is little competition in this area, as every drug comes with its own bundle of deadly side effects, but not FF. Fruitflow has the potential to stand alone in this massive Pharma market.

Phase 1 trials would be easy, as a lot of the safety stuff is already covered by EFSA/SAMR trials.

Phase 2 could be done in parallel to phase 1 due to the safety risk being extremely low.

Then if they are successful, it's open to the highest bidder that will take it forward and pay for the long phase 3 trials. This would then result in massive recurring payments to BH/PXS if phase 3 were successful.

Some food for thought!

Yes. Consider 'A number of truly global companies have strong and ongoing interest'. We can deduce a lot from that. A number of likely means 2 or 3. Truly globals are the likes of Nestle, Danone, Abbott, that kind of huge company. It could even include a Pharma company like Eli Lilly or Novo Nordisk. Then they have strong and ongoing interest. This remains the case after 3 years. We can say that it is highly likely that they are launching products based on 300mg of FF. The typical product development lifecylcle would be around 3 to 5 years. So it seems likely that one of the companies will launch this year. The volumes for these launches will undoubtedly be huge, especially given the 300mg (2 standard doses).

Wait until China is approved, BH have rolled out a number of products, other Chinese companies have launched, and several globals have launched. Then we will get an idea of the true value.

Before selling at 3pm, just consider the growth prospects in China when it gets going. BH starting with 2 products, then adding more and more along the way. As far as we know, they have been doing deals with a large number of multi-national companies. They are in a Union with Nestle, Danone and Mengniu, where one of the main aims is to address risks and concerns in the HC2030 policy. This means it's highly likely that those companies will be going with it. Also Mengniu had Felix there, which was likely linked to FF. Some of the products will be dual claim and some will include 300mg of FF. Also, now there is a way to address the platelet risk, the state can encourage companies to do so. They don't have to promote FF, they just have to instruct companies to focus on the risk, where FF is the only answer. State sanctioned monopoly if you like.

Then we have a number of truly global companies that, it seems, are in the process of developing and launching products. We don't know what they will be, but should be based on 300mg of FF, as per RCT and patent. This could be something like Nestle launching a companion product for GLP-1, as FF addresses the GLP-1 risk factors (blood flow, inflammation, dysbiosis). That's the hottest development area this year. If this is what they are doing, then, well, that would be very good indeed.

Then we have the existing heart health prospective pipeline, which stands at significant multiples of existing sales (£1.3m).

A company in the sector we are in can typically have PTE ration of around 30x. So if PXS can make £5m, it would not be unusual to be valued at £150m.

After SAMR approval it should be very good, then year 2 and 3 will see huge growth. I'm just sticking with it, let it take me where it goes.

It's very good that there is actually a small number of people holding a lot of the shares, as that will help the share price eventually. Unfortunately, I only own a fraction of 1%.

You missed..

Gix Er and family - 1%

:)

When we were re-listed we changed sector:

Healthcare, Drug Manufacturers, specialty & generic

That’s good for us.

The RNS is pretty meh, but the interesting bit is this:

"The Company will provide shareholders with as much information as it can on the timing of this commercially sensitive and potentially transformative project, subject to the multi-party confidentiality arrangements which surround the process."

That's new and now suggests there is something to tell, but they can't share it with us at the moment. That's the way I read it.

The formal notification is on the SAMR database for which you need a login, so we can't see it, but can see others reporting that it has happened. By-Health investors are all discussing it. It should help drive growth in the industry, as it opens up a new category..

Gixer posted the links to the 2 FF based products that have now received 'Onsite Verification'. 16th Dec.

https://www.cfe-samr.org.cn/zyyw/bjsp/yjsdxx/202512/t20251217_6261.html

FF, the products and the associated health claim are inseparable. The Onsite Notification (Notice of On-site Inspection for Health Food Registration) is only provided when the Technical Review is complete. If there was any rejection due to the science, there would have been a formal rejection, not notification of moving to the final steps.

So the final steps are Onsite Inspection, followed by administrative review / paperwork review. These would only ever cause minor delays, not an outright rejection at this point. Onsite they'll validate the process, check calibration of machines etc, then for paperwork they'll check if anything is missing and then issue the certs.

By-Health have many onsite inspections throughout the year, as they have many Blue Hat products. So this is nothing new to them.

This could take several months, but in reality it usually much quicker. You're looking at about Jan 22nd perhaps. There are additional days in the process, like if they find anything at the site inspection, BH aim to rectify it in 10 days, then the SAMR have x days etc etc.