Update of Collaboration with University of Oslo

RNS Number : 4428R

Provexis PLC

29 June 2015

 

29 June 2015

Provexis plc

Fruitflow® and Blood Pressure - first stage update

Collaboration with University of Oslo

Provexis plc ("Provexis" or the "Company"), the business that develops and licenses the proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient, is pleased to announce an update to its collaboration agreement with the University of Oslo, to undertake further research into the relationship between Fruitflow® and blood pressure regulation.

Recent work undertaken by the University of Oslo ('the University') has shown that the Company's Fruitflow® technology has a potential new bioactivity leading to blood pressure lowering effects. In November 2014 the Company signed a two stage collaboration agreement with the University, and a related option agreement with Inven2 AS, the University's technology transfer office, to undertake further research into the relationship between Fruitflow® and blood pressure regulation.

The first stage of the collaboration work has now been completed. First stage work focussed on developing the science, with major areas including fractionation, testing, bioactivity, dosage and further IP development.

The key results from this first stage have been very encouraging, with strong evidence from the laboratory based work that a standard 150mg dose of Fruitflow® in powder format has the potential to give a clinically relevant reduction in systolic blood pressure.

The Company and the University will now proceed with the second stage of the collaboration work, which will see the parties conduct a small clinical trial by way of a proof of principle study. Study designs are currently being prepared for ethics approval before finalisation, with a potential dosage for the study of 150mg Fruitflow® in powder format twice per day.

The University of Oslo's research team is led by Professor Asim Duttaroy, Group Leader of Chronic Disease at the Faculty of Medicine, who was the original inventor of Fruitflow®. Provexis' work under the collaboration is led by Dr Niamh O'Kennedy, a research chemist specialising in the field of natural products chemistry who played a key role in the development of Fruitflow®, and the health claim for Fruitflow® which was adopted by the European Food Safety Authority ('EFSA').

Dawson Buck, Chairman of Provexis, commented:

"We are very encouraged with the results from the first stage of this laboratory based collaboration work, which suggest that a standard dose of Fruitflow in powder format has the potential to give a clinically relevant reduction in systolic blood pressure, which would be of relevance to a large number of consumers and patients with a wide range of cardiovascular conditions.

The collaboration is an important step in maximising the opportunities available to commercialise Fruitflow, and we look forward to continuing the development of this very promising blood pressure lowering programme."

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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 the Company's novel, patented Fruitflow® heart-health ingredient in all global markets, with over 35 regional consumer healthcare brands now having been launched by DSM customers. DSM's total revenues for Fruitflow® for the year ended 31 March 2015 grew strongly by more than 73% year on year, reflecting strong interest in Fruitflow® and the success of the powder format which is being used in an increasing number of new product launches.

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 4 June 2015 the Company announced that it had joined PrimaryBid.com (www.primarybid.com), the online platform dedicated to equity crowdfunding for AIM-listed companies.

PrimaryBid.com provides a new channel for the Company to raise equity from investors, allowing investors to bid directly for new shares in the Company at prices of their choosing, subject to certain limited restrictions. Full details can be found on www.primarybid.com.

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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