Provexis Regulatory News (PXS)

1 Nov 2006 07:01

Provexis PLC01 November 2006 1 November 2006 PROVEXIS PLC ("Provexis") Fruitflow Licence Delay Provexis, the nutraceutical company that develops scientifically-provenfunctional and medical foods, announces that discussions for the licensing ofits Fruitflow(R) bioactive food ingredient to a major international brand ownerwill now extend into 2007, due to the extension of the technical developmenttimeline. Following the announcement in July of a one-year Exclusivity Agreement betweenProvexis and a major international brand owner, the parties have been workingintensively on the development of an advanced format of the Fruitflow(R)bioactive ingredient, and its incorporation into a new branded product format. The patented, scientifically-proven Fruitflow(R) bioactive food ingredientreduces blood platelet aggregation, a significant contributing factor tothrombosis, which can cause heart attack or stroke. Commenting on the news, Stephen Moon, CEO of Provexis said: "While the delay is disappointing, it is important to optimise the technicalplatform in order to maximise future potential revenues from our patented andproven Fruitflow(R) technology. Our partner remains wholly committed, and thejoint project development team is focussed fully on reaching a successfulconclusion." For further information please contact: Stephen Moon, CEO Tel: 020 8392 6634Provexis plc Victoria GeogheganEmma KentBell Pottinger Corporate & Financial Tel: 020 7861 3232 This information is provided by RNS The company news service from the London Stock Exchange