TIDMPXS
RNS Number : 2141F
Provexis PLC
25 October 2018
25 October 2018
Provexis plc
Result of AGM
Provexis plc ('Provexis' or the 'Company'), the business that
develops, licenses and sells the proprietary, scientifically-proven
Fruitflow(R) heart-health functional food ingredient, is pleased to
announce that at the Annual General Meeting of the Company held
today all the resolutions were duly passed.
ends-
For further information please contact:
Provexis plc Tel: 07490 391888
Dawson Buck, Chairman enquiries@provexis.com
Ian Ford, Finance Director
Cenkos Securities plc Tel: 020 7397 8900
Mark Connelly
Stephen Keys
Notes for editors
About Provexis plc
AIM-listed Provexis is focused on the development, licensing and
sales of its proprietary, scientifically-proven Fruitflow(R)
heart-health functional food ingredient.
In May 2009, the Company's Fruitflow(R) technology was the first
to be substantiated by the European Food Safety Authority ('EFSA')
under the then 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(R), through sales as an ingredient to brand
owners in the food, beverage and dietary supplement categories. The
Alliance is seeing the partners collaborate to develop Fruitflow(R)
in all major global markets.
More than 90 regional consumer healthcare brands have now been
launched by direct customers of DSM, and a number of further
regional brands have been launched through DSM's distributor
channels.
The Company and DSM have seen an encouraging increase in brand
awareness and customer interest in Fruitflow(R) over the last two
years, with an increasing number of further commercial projects
being initiated with prospective customers, including some
prospective customers which are part of global businesses.
In September 2018 the Company announced that the total projected
annual sales value of the prospective sales pipeline for Fruitflow
then stood at a substantial multiple of existing annual sales.
In June 2016 the Company launched a high quality dietary
supplement product containing Fruitflow(R) and Omega-3 which is
being sold from a separate, dedicated website www.fruitflowplus.com
on a mail order basis, the product is also available to purchase
from Amazon.co.uk.
The Company has been engaged in a two stage collaboration
agreement with the University of Oslo to undertake further research
into the relationship between Fruitflow(R) and blood pressure
regulation. In December 2016 the Company announced the results from
the second stage of the collaboration, a pilot study which
indicated that a standard dose of Fruitflow(R) significantly
lowered average 24-hour systolic blood pressure. Systolic and
diastolic blood pressure were shown to be significantly lower
whilst trial subjects were awake, a clinically relevant reduction
in blood pressure. In September 2017 the results from the blood
pressure collaboration were published in the International Journal
of Food Sciences and Nutrition.
In December 2017 the Company announced the filing of a patent
application relating to the use of Fruitflow(R) in protecting
against the adverse effects of air pollution on the body's
cardiovascular system. Recent laboratory work has shown that
Fruitflow(R) can reduce the platelet activation caused by airborne
particulate matter, such as that from diesel emissions, by
approximately one third. The beneficial effects of this reduction
can be observed in laboratory models representing healthy subjects
as well as in models representing subjects with an underlying
cardiovascular problem.
In August 2018 Fruitflow(R)+ Omega-3 was listed in more than 660
Holland & Barrett stores across the UK and Ireland, together
with Holland & Barrett Online.
The Company is working with DSM and BY-HEALTH Co., Ltd, a GBP3bn
listed Chinese dietary supplement business, to support the planned
launch of some Fruitflow(R) based products in the Chinese
market.
In September 2018 the Company confirmed that the planned launch
by BY-HEATH of a number of Fruitflow(R) based products in the
Chinese market, with potentially substantial volumes, is
progressing well, with activities driven at present by the need to
obtain 'blue cap' health claim status for Fruitflow(R) as a dietary
supplement with the China Food and Drug Administration (CFDA).
Clinical studies conducted in China are typically required to
obtain blue cap health claim status, and a significant investment
in six separate studies, in support of the Fruitflow(R) based
products which BY-HEALTH plans to launch in China, is being
undertaken at BY-HEALTH's expense.
Two studies have been successfully completed in China, one study
is currently ongoing at a Chinese clinical site and three further
planned human studies have been confirmed by BY-HEALTH.
The two completed studies (a human study and an animal study)
showed excellent results in use for Fruitflow(R), and BY-HEALTH
intends to make the relevant blue cap submission to the CFDA by the
end of 2018, to include reference to the Company's existing
European Food Safety Authority ('EFSA') health claim for
Fruitflow.
BY-HEALTH has launched a Fruitflow(R) sports nutrition product
in China under its GymMax brand, for the exclusive use of Chinese
national athletes.
In April 2017 the Company announced it had entered into a
memorandum of understanding with BY-HEALTH, intended to result in a
research and collaboration agreement with BY-HEALTH for
Fruitflow(R), focussing on BY-HEALTH's research programme into the
development of new products that contribute to cardiovascular
health, particularly in the field of blood pressure regulation.
The proposed research and collaboration agreement is intended to
include a clinical trial which will be conducted in China, and it
is intended that the Company, BY-HEALTH and a third party Chinese
research organisation will sign the research and collaboration
agreement in the first half of 2019, with the bulk of the research
programme to be completed in 2019. This will effectively be
BY-HEALTH's seventh clinical study for Fruitflow(R).
It is envisaged that the Company will provide scientific and
technical support for Fruitflow(R) to BY-HEALTH throughout the
collaboration, with further potential research projects for
Fruitflow(R) between the Company and BY-HEALTH now under
discussion.
There are more than 230m people in China who are currently
thought to have cardiovascular disease, and a significant increase
in cardiovascular events is expected in China over the course of
the next decade based on population aging and growth alone (source:
World Health Organisation - Cardiovascular diseases, China). China
is now the world's second-largest pharmaceuticals market, measured
by how much patients and the state spend on drugs (source:
health-care information company IQVIA). The Company believes that
Fruitflow(R) has the potential to play an important role in the
Chinese cardiovascular health market.
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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END
RAGLELFLVBFEFBL
(END) Dow Jones Newswires
October 25, 2018 08:55 ET (12:55 GMT)
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