Result of AGM

RNS Number : 3968L

Provexis PLC

30 September 2016

 

30 September 2016

Provexis plc

Result of AGM

Provexis plc (the "Company") is pleased to announce that at the Annual General Meeting of the Company held today all the resolutions were duly passed.

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For further information please contact:

Provexis plc                                                     Tel:      [phone]

Ian Ford, Finance Director                               [e-mail]

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 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 the Company's novel, patented Fruitflow® heart-health ingredient in all global markets, with over 50 regional consumer healthcare brands now having been launched by direct customers of DSM, and with a number of further regional brands having been launched through DSM's distributor channels.

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.

On 29 June 2016 the Company launched a high quality dietary supplement product containing Fruitflow® and Omega-3 which is being sold initially from a separate, dedicated website www.fruitflowplus.com on a mail order basis.

The Company conducted a Key Opinion Leaders' roundtable event for Fruitflow® in London on 29 September 2016, focussed on raising awareness of the importance of blood flow in cardiovascular health, and the effectiveness of dietary antiplatelets. The roundtable was attended by key scientists from Provexis and DSM, along with a number of interested health care professionals with close links to the media. The event was recorded with a view to producing two further promotional videos: a video for Fruitflow® targeting prospective trade customers, and a video for Fruitflow® + Omega-3 capsules targeting prospective consumers.

Video content recorded at the event and subsequently will be used to promote Fruitflow® and the Company's Fruitflow® + Omega-3 capsules more widely across key digital and other mainstream media channels.

The Company and DSM are keen to secure greater medical advocacy for Fruitflow® and the roundtable event forms part of this strategy. The roundtable event will also be supported by a broader consumer PR campaign.

The Company is engaged in a two stage collaboration agreement with the University of Oslo ('the University') to undertake further research into the relationship between Fruitflow® and blood pressure regulation. The Company is very pleased with the encouraging results from the first stage of the collaboration with strong evidence that a standard dose of Fruitflow® has the potential to give a clinically relevant reduction in systolic blood pressure. The Company and the University expect to be able to complete a small clinical trial by way of a proof of principle study in Q4 2016 and the results of the proof of principle study will be announced as soon as possible thereafter.

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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