Last checked at 21 Aug 2008 07:00
21 August 2008
PROVEXIS plc
("Provexis" or the "Company")
NEW TECHNOLOGY FOR CLOSTRIDIUM DIFFICILE
Provexis plc (PXS.L), the life-science business that discovers, develops and licenses scientifically-proven functional food, medical food and dietary supplement technologies, announces the extension of its joint venture with ULive Enterprises Ltd ("ULive") into a new technology area.
The 75% Provexis-owned joint venture with ULive is to extend its activity into the development of a novel plant-derived formulation for the treatment and prevention of infections caused by invasive bacteria such as Clostridium difficile ("C.difficile").
C.difficile is a major cause of antibiotic-associated diarrhoea and colitis in humans and is often considered to be a 'superbug' as it is notoriously difficult to eliminate. It is increasingly prevalent among hospital patients and its eradication is an NHS priority. In 2007, a total of 57,388 cases were reported across the UK, of which 87% were in the over-65 age bracket, a group at high risk of both infection and complications resulting from infection. In the USA, at least 360,000 cases of infection per annum are caused by the bacteria.
The new technology project by the joint venture partners will develop a novel, patented and clinically-proven formulation to prevent interactions between bacteria of therapeutic interest including C.difficile and the lining of the human digestive tract. The proposed end-user product will be targeted at the medical food sector.
ULive has been established to commercialise intellectual property generated by the University of Liverpool's research activities. Provexis and ULive are currently developing a technology for patients with Crohn's Disease, which is to enter clinical trial in the second half of 2008.
Stephen Moon, Chief Executive Officer of Provexis plc, commented:
"The new technology addresses an area identified by the Department of Health as a major cause of intestinal infections in hospitals, particularly in elderly patients. We are pleased to extend the joint venture with ULive to address this important area, further strengthening our pipeline."
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For further information please contact:
| Stephen Moon, Chief Executive | ||
| Provexis plc | Tel: | 01753 752 290 |
| Tom Griffiths/Alasdair Younie | Tel: | 020 7012 2000 |
| Arbuthnot Securities |