Director/PDMR Shareholding

RNS Number : 1805L

Provexis PLC

07 January 2016

 

7 January 2016

Provexis plc

Directors' Share Purchases

Provexis plc ("Provexis" or the "Company"), the business that develops and licenses the proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient, announces it has received notification today that:

1.   On 6 January 2016, Dawson Buck, the Executive Chairman of the Company, purchased 2,093,567 ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") at an average price of 0.265 pence per Ordinary Share.

Following the purchase, Mr Buck is interested in 15,000,000 Ordinary Shares which amounts to approximately 0.91 per cent. of the current issued share capital of the Company.

2.   On 7 January 2016, Ian Ford, the Finance Director of the Company, purchased 2,798,168 Ordinary Shares at an average price of 0.286 pence per Ordinary Share.

Following the purchase, Mr Ford is interested in 5,000,000 Ordinary Shares which amounts to approximately 0.30 per cent. of the current issued share capital of the Company.

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For further information please contact:

Provexis plc                                                     Tel:      [phone]

Dawson Buck, Chairman                                 [e-mail]

Ian Ford, Finance Director

Cenkos Securities plc                                      Tel:      [phone]

Bobbie Hilliam

Notes for editors

About Provexis plc

AIM-listed Provexis is focused on the development and licensing of its proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient.

In May 2009, the company's Fruitflow® technology was the first to be substantiated by the European Food Safety Authority ("EFSA") under the new Article 13(5) for proprietary and emerging science. In December 2009 the European Commission authorised the health claim "Helps maintain normal platelet aggregation, which contributes to healthy blood flow", which was the first wording to be authorised under Article 13(5).

In June 2010 it was announced that the company had entered into a long-term Alliance Agreement with DSM Nutritional Products to commercialise Fruitflow®, and in June 2015 the Company confirmed that it had agreed significantly enhanced financial terms for its Alliance Agreement with DSM for Fruitflow®.

The Company's Alliance partner DSM Nutritional Products has developed the market actively for Fruitflow® in all global markets, with over 45 regional consumer healthcare brands now having been launched by DSM customers. DSM's total revenues for Fruitflow® for the year ended 30 September 2015 grew strongly by more than 33% year on year, reflecting strong interest in the product and the success of the powder format, further sales growth is expected to be reported in the quarter to December 2015.

An increasing number of further commercial projects have been initiated by DSM with prospective customers, including some prospective customers which are part of global businesses, with good prospects for these projects to be launched as consumer products. Interest in the technology exists in all major global markets, and the total value of the prospective sales pipeline is increasing.

The Company and DSM are keen to secure greater medical advocacy for Fruitflow®, particularly with reference to the US Food and Drug Administration's guidance in May 2014 concerning the use of low dose Aspirin which remains a strong opportunity for Fruitflow®. Fruitflow® has accordingly been promoted at some major cardiovascular health events, including the European Society of Cardiology's annual congress in London which was attended by more than 30,000 healthcare professionals.

Marketing initiatives for Fruitflow® have also included DSM's new product video which is available to view at www.youtube.com/watch?v=vG2VuJrvtrI

The Company is engaged in a collaboration agreement with the University of Oslo ('the University') to undertake further research into the relationship between Fruitflow® and blood pressure regulation. Recent work undertaken by the University has shown that Fruitflow® has a potential new bioactivity leading to blood pressure lowering effects, and the Company has signed a two stage collaboration agreement with the University to undertake further research into the relationship between Fruitflow® and blood pressure regulation.

In June 2015 the Company announced that the first stage of the collaboration work with the University of Oslo had been completed, with some very encouraging key results: there is strong evidence from the laboratory based work that a standard 150mg dose of Fruitflow® has the potential to give a clinically relevant reduction in systolic blood pressure. The Company and the University are now proceeding with the second stage of the collaboration work, which is seeing the parties conduct a small clinical trial by way of a proof of principle study.

The Company is in the process of launching a high quality dietary supplement product containing Fruitflow® and Omega-3 which will be sold initially from the Company's separate, dedicated website www.fruitflowplus.com on a mail order basis. The new Fruitflow® + Omega-3 dietary supplement product is expected to provide the Company with an additional income and profit stream. Fruitflow® and Omega-3 have separate, positive EFSA health claims and the packaging for the product reflects these strongly.

The Company plans to launch the new dietary supplement product as soon as possible; the fruitflowplus.com website will be able to accommodate further potential Fruitflow® combination product derivatives. The Company is keen to increase the brand awareness and potential sales of its new dietary supplement product and further sales channel opportunities are under review.

Provexis was founded in 1999 and is headquartered in Reading, Berkshire.

Provexis shares are traded on the AIM market of the London Stock Exchange under the ticker symbol PXS.

For further information, please visit www.provexis.com

 

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