Provexis PLC
01 November 2006
1 November 2006
PROVEXIS PLC
('Provexis')
Fruitflow Licence Delay
Provexis, the nutraceutical company that develops scientifically-proven
functional and medical foods, announces that discussions for the licensing of
its Fruitflow(R) bioactive food ingredient to a major international brand owner
will now extend into 2007, due to the extension of the technical development
timeline.
Following the announcement in July of a one-year Exclusivity Agreement between
Provexis and a major international brand owner, the parties have been working
intensively on the development of an advanced format of the Fruitflow(R)
bioactive ingredient, and its incorporation into a new branded product format.
The patented, scientifically-proven Fruitflow(R) bioactive food ingredient
reduces blood platelet aggregation, a significant contributing factor to
thrombosis, which can cause heart attack or stroke.
Commenting on the news, Stephen Moon, CEO of Provexis said:
'While the delay is disappointing, it is important to optimise the technical
platform in order to maximise future potential revenues from our patented and
proven Fruitflow(R) technology. Our partner remains wholly committed, and the
joint project development team is focussed fully on reaching a successful
conclusion.'
For further information please contact:
Stephen Moon, CEO Tel: 020 8392 6634
Provexis plc
Victoria Geoghegan
Emma Kent
Bell Pottinger Corporate & Financial Tel: 020 7861 3232
This information is provided by RNS
The company news service from the London Stock Exchange
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