Provexis Regulatory News (PXS)

9 Mar 2006 07:01

Provexis PLC09 March 2006 PROVEXIS PLC ("Provexis" or the "Company") FruitflowTM has GRAS status affirmed in the United States Provexis, the nutraceutical company that develops scientifically-provenfunctional and medical foods, announces that an independent Expert Panel in theUnited States has affirmed FruitflowTM to be Generally Recognised as Safe("GRAS"), paving the way for products containing FruitflowTM to be marketed inthe United States and Canada. The Expert Panel agreed that the components of FruitflowTM have a long historyof consumption as part of the normal diet and would be consumed at levels thatare comparable to those that are possible from the consumption of othertomato-based food products. Furthermore, clinical studies have demonstrated thatFruitflowTM is without adverse effects and well-tolerated. In the United Kingdom, SircoTM heart health juice drink is the first hearthealth product to contain the patented FruitflowTM technology. FruitflowTM worksby reducing blood platelet aggregation ("thinning the blood"), a significantcontributing factor to a thrombosis (internal blood clot) which can lead toheart attack or stroke. SircoTM, which was launched in the UK in January 2006,is currently available in selected Tesco, Sainsbury and Waitrose stores. The GRAS affirmation of FruitflowTM is a significant development for Provexis asit continues to implement its strategy of commercialising FruitflowTM in theUnited States by securing licensing arrangements with global food and drinkcorporations. A Mintel report published in August 2005 estimated the market forheart healthy products in the US was worth $18.7bn and this market is forecastto grow by 16% by 2010. Commenting on the news, Dr Stephen Franklin, CEO of Provexis, said: "We are delighted that FruitFlowTM has been affirmed GRAS as this represents theessential precursor to unlocking the substantial commercial opportunitiesavailable in North America. With our existing clearance in Europe, we now haveaccess to our two primary target markets which we intend to realise via ourlicensing strategy." For further information please contact: Provexis plcDr Stephen Franklin 020 8392 6631 Bell Pottinger Corporate & FinancialEmma Kent 020 7861 3232 This information is provided by RNS The company news service from the London Stock Exchange