Provexis Regulatory News (PXS)

24 Jun 2005 08:03

Provexis PLC24 June 2005 24th June 2005 PROVEXIS PLC COMMENCEMENT OF TRADING ON AIM Further to the announcement by Nutrinnovator Holdings plc on 23rd June 2005, Provexis plc ("Provexis" or the "Company") AIM: PXS.L, announces the commencement of trading in its ordinary shares on AIM today. • Provexis (originally founded in 1999) is a nutraceutical company whichdevelops scientifically-proven and proprietary functional foods, supplementsand medical foods. Functional foods are foods which are consumed for themaintenance of health and have the potential to carry health claims to thiseffect. • Its lead technology is to be branded Fruitflow. Fruitflow, which was developed by Provexis under the name CardioFlow, is a proprietary extract of tomato, industrially produced to laboratory-determined specifications.Fruitflow contains a range of tomato-derived components which inhibit platelet aggregation, a part of the blood-clotting process which can cause heart attack and stroke. • The first commercially available product containing Fruitflow will be a fruitjuice drink called Sirco. The Company is in discussions with major high-street retailers and multiple grocers to secure distribution channels for Sirco and aims to launch it in two major UK retailers in the final quarter of calendar 2005. • In addition to Fruitflow, Provexis has a promising technology pipeline including a medical food for the dietary management of inflammatory bowel disease, specifically Chrohn's and a novel functional food product which isexpected to show risk reduction in a number of cancers. • Provexis has raised approximately £3.8 million (before expenses) via a placingat 5.6p per ordinary share and has converted £2.1 million of loans into new equity. • The proceeds of the Placing will be used to launch and market Sirco in the UK and to continue to develop its near term product pipeline. • Arbuthnot Securities is the nominated advisor and broker. Dr Stephen Franklin, Chief Executive Officer of Provexis, said: "The conclusionof our reverse take-over of Nutrinnovator and our listing on AIM is an importantmilestone in the development of the Company. We believe we have a clearly differentiated position in the functional foodindustry as our innovative functional food products have health benefits thatare scientifically-proven and therefore have the potential to carry crediblehealth claims and endorsements. This, combined with our proven speed-to-marketcredentials, positions us well in the rapidly growing functional food market." Ends Provexis plcDr Stephen Franklin, CEO 07710 348 774 Arbuthnot Securities LimitedTom Griffiths 020 7012 2000 Bell Pottinger Corporate and FinancialAnn-Marie Wilkinson/Emma Kent 020 7861 3232 This information is provided by RNS The company news service from the London Stock Exchange