Last checked at 14 Feb 2012 07:00
14 February 2012
Provexis plc
FRUITFLOW® UPDATE
Provexis plc ("Provexis" or the "Company"), the life-science business that develops, licenses and markets scientifically-proven functional food and sports nutrition technologies, announces an update of progress with its proprietary and patented Fruitflow® heart health technology.
At the end of 2011 the bioavailability of a small-scale production run of Fruitflow® powder was verified in our laboratory in the University of Aberdeen. During January 2012 an industrial scale production of powder was successfully completed at a strategic manufacturing site. The production of Fruitflow® powder on an industrial scale is an important step in the development of the technology, given the commercial interest being shown by consumer healthcare brand owners for tablet and capsule formats of Fruitflow®. Our Alliance partner, DSM Nutritional Products ("DSM") is currently developing tablet and capsule powder formats to present to potential commercial clients.
At the interims the Company stated that Fruitflow® would contribute limited revenues in the second half of the financial year via revenues from the launch of regional consumer products using our existing Fruitflow® syrup format in the US, Europe and Asia-Pacific markets. The Alliance has seen revenues from these products in the second half of the financial year, and while they will not be material to the Company in the financial year, they are an important indicator that Fruitflow® is gaining acceptance in the market.
Much of the focus of the Alliance partners is on the commercialisation of the powder version of Fruitflow® and work is being carried out in conjunction with global brand owners to assess the potential of product launches in the dietary supplement sector in major global markets.
To facilitate the commercialisation of Fruitflow® powder the Alliance partners are undertaking intellectual property registration in several major markets.
Provexis has identified a potential application for Fruitflow® in the sports nutrition market and has developed a product for its Science in Sport business. This product will launch in the UK in late summer, as part of a wider new product launch programme for the business.
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For further information please contact:
Provexis plc
Stephen Moon, Chief Executive Tel: 01753 861777
Cenkos Securities plc
Stephen Keys Tel: 020 7397 8900
Haggie Financial LLP
Matthew Longbottom / Peter Rigby Tel: 020 7417 8989
matthew.longbottom@haggie.co.uk