Provexis Regulatory News (PXS)

3 Nov 2005 07:00

Provexis PLC03 November 2005 3 November 2005 PROVEXIS PLC ("Provexis" or the "Company") US PATENT AWARDED COVERING FRUITFLOW TECHNOLOGY Provexis, the nutraceutical company that develops scientifically-provenfunctional and medical foods, announces that it has received a patent grant fromthe United States Patent Office covering its FruitflowTM technology. The FruitflowTM technology covered by this patent was discovered at the RowettResearch Institute in 1998 and has been developed and clinically tested byProvexis since 2000. FruitflowTM contains a bioactive extract from tomatoeswhich has been proven in human trials to inhibit blood platelet aggregation andthereby reduce the risk of thrombosis, a primary cause of heart attack andstroke. The technology already has patent protection in Europe, granted in July2003, and in Australia, granted in August 2004. It is also anticipated thatpatent protection will be granted in Japan, Mexico and Canada in the nearfuture. Provexis will be launching the FruitflowTM technology in its lead product, thefruit juice drink SircoTM, in January 2006 in the UK. SircoTM has been approvedby HEART UK and will carry the claim "helps to maintain a healthy heart andbenefits the circulation". SircoTM is differentiated from existing cholesterolmanagement products in that the benefit is associated with blood thinning and iseffective from the first serving. The launch will be targeting a new, emergingcategory in the functional food market in the UK: heart-healthy functionaljuices. The market for heart-healthy foods worldwide is expected to reach US$4.6billion of sales by the end of 2005. Dr Stephen Franklin, Chief Executive Officer of Provexis, said: "We aredelighted to have been granted the US patent for our FruitflowTM technology. Wenow have patent protection in our two largest target markets, the United Statesand Europe. This is a critical development in terms of our licensing ambitionsand it means that we can start to make significant in-roads into the USfunctional food market, which is expected to reach US$34 billion of sales by2010." For further information please contact: Provexis plcDr Stephen Franklin, CEO 07710 348 774 Bell Pottinger Corporate and FinancialAnn-Marie Wilkinson/Emma Kent 020 7861 3232 Notes to Editors Provexis develops scientifically proven functional and medical foods. Functionalfoods are foods such as Benecol and Flora pro.activ that contain physiologicallyactive food components and provide health benefits beyond basic nutrition.Medical foods are administered to patients by a physician for the dietarymanagement of specific diseases. In June 2005 the Company joined AIM via a reverse takeover of NutrinnovatorHoldings plc. Provexis was formed in December 1999 by the life-science subsidiary of theventure-management company, ANGLE plc. In January 2000, Provexis entered into anew technology option agreement with Rowett Research Services Ltd. (RRS), thecommercial subsidiary of the Aberdeen based Rowett Institute, and this optionwas exercised in November 2001. Provexis' agreements with RRS have provided itwith the intellectual property rights pertaining to its lead product, Fruitflow.Provexis continues to have strong links with the Rowett Institute, whichprovides the company with R&D facilities, human trials and, potentially, newtechnologies. This information is provided by RNS The company news service from the London Stock Exchange