Last checked at 6 Apr 2017 07:00
6 April 2017
Provexis plc
MOU for a research and development collaboration with By-Health Co., Ltd for Fruitflow®, and By-Health product launches in China in the second half of 2017
Provexis plc ("Provexis" or the "Company"), the business that develops, licenses and sells the proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient, is pleased to announce it has entered into a memorandum of understanding ("MOU") with BY-HEALTH Co., Ltd ("BY-HEALTH"), a substantial listed Chinese dietary supplement business, which is intended to result in a research and collaboration agreement with BY-HEALTH for Fruitflow®.
The Company is also pleased to confirm separately that Provexis and its Alliance partner for Fruitflow®, DSM Nutritional Products ("DSM"), are working with BY-HEALTH to support the planned launch of some Fruitflow® based products in the Chinese market, with the first launch envisaged in the second half of 2017.
The proposed research and collaboration agreement between the Company and BY-HEALTH is intended to focus on BY-HEALTH's research programme into the development of new products that contribute to cardiovascular health, particularly in the field of blood pressure regulation, and it is intended to include a clinical trial which will be conducted in China. It is envisaged that the Company, BY-HEALTH and a third party Chinese research organisation will sign the research and collaboration agreement later this year, with the bulk of the research programme to be completed in 2018.
It is envisaged under the MOU that the Company and BY-HEALTH will jointly provide primary funding for the research and collaboration work which would include the assessment of a number of different potential product formulations. Product formulations which are covered under the Company's existing patents would continue to be owned outright by the Company, and the Company would retain proportional joint ownership of any new product formulations developed as part of the project. It is envisaged that the Company will provide scientific and technical support for Fruitflow® to BY-HEALTH throughout the collaboration.
In November 2016 the Company announced that its Alliance partner for Fruitflow®, DSM, had entered into a strategic collaboration agreement for Fruitflow® with BY-HEALTH focussing on the development of new products that contribute to cardiovascular health, and the MOU announced by the Company today is in support of this existing collaboration, whilst ensuring that the Company retains and strengthens its intellectual property holdings.
There are more than 230m people in China who are currently thought to have cardiovascular disease, and a significant increase in cardiovascular events is expected in China over the course of the next decade based on population aging and growth alone.¹ China is now the world's second-largest pharmaceuticals market, measured by how much patients and the state spend on drugs. The Company believes that Fruitflow® has the potential to play an important role in the Chinese cardiovascular health market.
About Fruitflow®
Fruitflow® is a patented, scientifically-proven tomato extract which inhibits platelet aggregation, a known cause of heart attack, stroke and venous thrombosis. It is a natural product classified as a food which is easy to digest.
In May 2009 Fruitflow® was the first technology to be substantiated by the European Food Safety Authority ('EFSA') under the new Article 13(5) for proprietary and emerging science. In December 2009 the European Commission authorised the health claim 'Helps maintain normal platelet aggregation, which contributes to healthy blood flow'.
In human trials consumption of Fruitflow® has been proven to maintain healthy platelet aggregation and improve blood flow. In the largest single study for Fruitflow®, positive effects were observed in 97% of individuals tested. This compares favourably with single-drug therapies such as aspirin which can be ineffective in up to 30% of individuals; further, there are no recorded side effects from Fruitflow®.
On 30 December 2016 the Company announced in its interim results that more than 50 regional consumer healthcare brands containing Fruitflow® have now been launched by direct customers of DSM, with a number of further regional brands having been launched through DSM's distributor channels.
In June 2016 the Company announced the launch of its new Fruitflow® + Omega-3 dietary supplement product, which is exclusively available through the Company's new e-commerce website www.fruitflowplus.com, the product also has a Facebook page at www.facebook.com/FruitflowPlus
About BY-HEALTH
BY-HEALTH Co., Ltd. ("BY-HEALTH") was established in October 1995. In 2002 BY-HEALTH began to supply dietary supplements to the Chinese indirect sales market. BY-HEALTH has an extensive product portfolio and offers protein, vitamin, minerals, natural extracts and many other dietary supplement products. BY-HEALTH was the first company to win an AAA credit rating in the Chinese healthcare industry. In December 2010, BY-HEALTH (stock code: 300146) went public on the ChiNext, GEM board in the Shenzhen Stock Exchange, and the business is currently valued in excess of £2bn. Learn more about BY-HEALTH and its products at www.by-health.com.
¹ World Health Organisation - Cardiovascular diseases, China
Dawson Buck, Chairman of Provexis, commented:
"We are delighted to announce this MOU for a research and collaboration agreement with BY-HEALTH for Fruitflow which is intended to address significant aspects of cardiovascular health in the Chinese market.
We are also very pleased to confirm separately that Provexis and DSM are working with BY-HEALTH to support the planned launch of some Fruitflow based products in the Chinese market, with the first launch envisaged in the second half of 2017.
There are more than 230m people in China who are currently thought to have cardiovascular disease, and a significant increase in cardiovascular events is expected in China over the course of the next decade.
The Company's Fruitflow technology is well placed to address the large and growing issue of cardiovascular health in China, and the MOU announced today and planned launch by BY-HEALTH of some Fruitflow based products in China are strongly positive developments for Fruitflow and the Provexis business."
This announcement contains inside information.
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For further information please contact:
Provexis plc Tel: 07490 391888
Dawson Buck, Chairman enquiries@provexis.com
Ian Ford, Finance Director
Cenkos Securities plc Tel: 020 7397 8900
Bobbie Hilliam
Notes for editors
About Provexis plc
AIM-listed Provexis is focused on the development and licensing of its proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient.
In May 2009, the Company's Fruitflow® technology was the first to be substantiated by the European Food Safety Authority ("EFSA") under the new Article 13(5) for proprietary and emerging science. In December 2009 the European Commission authorised the health claim "Helps maintain normal platelet aggregation, which contributes to healthy blood flow", which was the first wording to be authorised under Article 13(5).
In June 2010 it was announced that the Company had entered into a long-term Alliance Agreement with DSM Nutritional Products to commercialise Fruitflow®, and in June 2015 the Company confirmed it had agreed significantly enhanced financial terms for its Alliance Agreement with DSM for Fruitflow®.
The Company's Alliance partner DSM Nutritional Products has developed the market actively for the Company's novel, patented Fruitflow® heart-health ingredient in all global markets, with over 50 regional consumer healthcare brands now having been launched by direct customers of DSM, and with a number of further regional brands having been launched through DSM's distributor channels.
An increasing number of further commercial projects have been initiated by DSM with prospective customers, including some prospective customers which are part of global businesses, with good prospects for these projects to be launched as consumer products. Interest in the technology exists in all major global markets.
In June 2016 the Company launched a high quality dietary supplement product containing Fruitflow® and Omega-3 which is being sold initially from a separate, dedicated website www.fruitflowplus.com on a mail order basis.
The Company conducted a Key Opinion Leaders' roundtable event for Fruitflow® in London on 29 September 2016, focussed on raising awareness of the importance of blood flow in cardiovascular health, and the effectiveness of dietary antiplatelets. The roundtable was attended by key scientists from Provexis and DSM, along with a number of interested health care professionals with close links to the media. The event was recorded and a video for Fruitflow® + Omega-3 capsules targeting prospective consumers can be seen here www.youtube.com/watch?v=P3HCSdyupEY&t=48s
The Company and DSM are keen to secure greater medical advocacy for Fruitflow® and the roundtable event forms part of this strategy.
The roundtable event is being supported by a broader consumer PR campaign, and the Company's Fruitflow® + Omega-3 dietary supplement product has featured in a number of recent articles in the UK national press which can be seen here www.fruitflowplus.com/fruitflow-in-the-media
The Company has been engaged in a two stage collaboration agreement with the University of Oslo to undertake further research into the relationship between Fruitflow® and blood pressure regulation. In December 2016 the Company announced the results from the second stage of the collaboration, a pilot study which indicated that a standard dose of Fruitflow® in powder format significantly lowered average 24-hour systolic blood pressure compared to placebo. Both systolic and diastolic blood pressure were shown to be significantly lower whilst trial subjects were awake, a clinically relevant reduction in blood pressure which is expected to be of interest to a large number of consumers and patients with a wide range of cardiovascular conditions.
Provexis was founded in 1999 and is headquartered in Reading, Berkshire.
Provexis shares are traded on the AIM market of the London Stock Exchange under the ticker symbol PXS.
For further information, please visit www.provexis.com