Provexis Regulatory News (PXS)

6 Apr 2006 07:01

Provexis PLC06 April 2006 PROVEXIS PLC ("Provexis" or the "Company") Trading Update Provexis, the nutraceutical company that develops scientifically-provenfunctional and medical foods, issues a trading update for the year ended 31March 2006. The Company's lead product Sirco(TM) was launched in Sainsbury's, Waitrose andTesco on 2 January 2006, 26 January 2006 and 4 February 2006 respectively.Sales, operating costs and the cash position for the year ended 31 March 2006are in line with expectations. Sirco(TM) is the first heart health product to contain the patented Fruitflow(TM) technology. Fruitflow(TM) works by reducing blood platelet aggregation ("thinning the blood"), a significant contributing factor to a thrombosis (internal blood clot) which can lead to heart attack or stroke. Licensing talks are on-going with major food and beverage corporations regardingthe global licensing of the Fruitflow(TM) technology across different application areas. As previously announced on the 9 March 2006, an independent Expert Panel in the United States affirmed that Fruitflow(TM) was Generally Recognised as Safe ("GRAS"). Together with the existing clearance in the EU, this development paves the way for products containing Fruitflow(TM) to be marketed across two principal target markets. In addition to Fruitflow(TM), the Company continues to develop its productpipeline with two other technology platforms which are intended to underpin newproduct launches in 2007 and 2008. The first of these products will be afunctional beverage, containing a glucosinolate-enriched broccoli extract forreducing the risk of specific types of cancer. The second product will be amedical food, based on a patented extract from plantain fruit, designed toextend remission time in patients with Crohn's Disease. For further information please contact: Provexis plcDr Stephen Franklin 020 8392 6631 Bell Pottinger Corporate & FinancialEmma Kent/Victoria Geoghegan 020 7861 3232 This information is provided by RNS The company news service from the London Stock Exchange