Last checked at 9 Dec 2014 07:00
Venture Life Group plc
("Venture Life" or "the Group")
First sale of new Benecol® cholesterol-lowering capsules in Malta
Bracknell, UK - 9 December 2014: Venture Life Group plc (AIM: VLG), the international consumer products group addressing the self-care needs of the ageing population, announces the first sale of its new Benecol® food supplement capsules. This follows the signing of a distribution agreement earlier this year between Venture Life and Alf Mizzi & Sons (Marketing) Group ("Alf Mizzi") under which Venture Life granted Alf Mizzi exclusive distribution rights to Benecol in capsule form in Malta. Benecol is a registered trademark of Raisio plc and is licensed to Alf Mizzi in Malta.
The new Benecol food supplement in capsule form is being sold through pharmacies in Malta with particular promotion to doctors, healthcare specialists and pharmacists. Benecol products are proven to reduce low density lipo-protein (LDL) cholesterol, and in capsule form the product offers the consumer portability, convenience and a long shelf life.
Malta is the first market to launch the new Benecol food supplement in capsule form using Raisio's patented plant stanol ingredient and under the Benecol brand.
Alf Mizzi is the largest FMCG distributor in Malta and has been selling Benecol as a functional food (in yogurt drink and spread form) for over seven years. It has built a market leading position in Malta with Benecol yogurt drinks.
Jerry Randall, Chief Executive Officer of Venture Life, commented:
"This is a very significant landmark for Venture Life. Malta is the first territory where the new food supplement, in capsule form, is available alongside a functional food version of Benecol that is already well-established in the local market.
"We share Alf Mizzi's confidence that the distribution of the Benecol capsule will increase the overall market for the brand in Malta, and we look forward to working with Alf Mizzi as they build their Benecol business further in this new distribution channel."
- Ends -
For further information please contact:
Venture Life Group PLC
Jerry Randall, Chief Executive Officer
James Hunter, Chief Financial Officer +44 (0) 1344 742870
Panmure Gordon (UK) Limited Freddy Crossley / Duncan Monteith +44 (0) 20 7886 2500Corporate Finance
Tom SalvesenCorporate Broking
Square1 Consulting
David Bick
Mark Longson +44 (0) 20 7929 5599
Notes to editors
About Venture Life
Venture Life is an international consumer self-care company focused on developing, manufacturing and commercializing products for the ageing population. The Group's product range and pipeline currently include food supplements for lowering cholesterol and maintaining brain function, dermo-cosmetics for addressing the signs of ageing, and medical devices for improving minor aches and pains, dry eyes and itchy skin. The products, which typically are recommended by pharmacists or healthcare practitioners, are available primarily through pharmacies supplied by the Group's international distribution partners.
Through its manufacturing company, Biokosmes, the Group also provides development and manufacturing services to companies in the medical device and cosmetic sectors.
The Group's own branded products are currently sold or partnered in over 40 countries and currently include:
· food supplements to maintain brain function and memory;
· dermo-cosmetics for addressing the signs of skin ageing and hair loss, and
· medical devices for improving conditions such as minor aches and pains, dry eyes and itchy skin.
The Company has a healthy development pipeline including products in areas such as diabetes, cardiovascular health, obesity, cognitive function and skin ageing. Products coming from the pipeline will be expected to have intellectual property protection and be supported by independent clinical evidence of efficacy.
About Raisio plc and Benecol®
Raisio plc is a Finnish company, whose shares are listed on NASDAQ OMX Helsinki Ltd. Benecol is Raisio's top innovation. It is an original expert in cholesterol lowering functional foods. The brand was launched in Finland in 1995 and is now sold in some 30 countries worldwide. Benecol, originally introduced as a spread, has expanded into various food forms; yogurts, yogurt drinks, breads and cream cheese spreads.
Benecol products contain the unique and patented ingredient - Plant stanol ester. This ingredient is safe, natural and supported by more than 70 published clinical studies that demonstrate significant efficacy of the cholesterol lowering properties of the product.
Venture Life has developed a capsule form of Benecol that contains the recommended daily dosage levels of Plant stanol ester. Benecol trademark is licensed to Venture Life by Raisio in certain countries.
About Alf Mizzi
Alf Mizzi was founded in 1915 as a food and clothing importer and distributor. The family run business has grown, diversified and established itself as a leading company in Malta, with over 900 employees.
Within the FMCG sector, Alf Mizzi is the market leader in Malta, marketing and distributing globally recognised chilled, frozen and grocery food brands. Alf Mizzi invests extensively in marketing across multiple channels; TV, online and outdoor advertising, and distributes to small local stores as well as supermarkets.
Alf Mizzi has been distributing Benecol products in functional food form in supermarkets and other food stores since 2007. With the launch of Benecol capsules, Alf Mizzi is extending its distribution into the pharmacy channel, which will complement its existing Benecol product distribution.