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- $18billion per annum estimated market for heart healthy products in US

- 3 hours after consumption the health benefits of Fruitflow® are observable

Overview

Provexis was established by ANGLE in 2000 to develop and license a range of scientifically-tested products based on natural, bioactive ingredients. The first product is a functional fruit juice aimed at the preventative health market and is available at major supermarkets including Tesco, Waitrose and Morrisons. Provexis listed on AIM in June 2005 through a reverse takeover of Nutrinnovator Holdings plc.

Background

Almost half of all deaths in Europe are a result of circulatory disease, including heart attack and stroke.  As the finger of blame for the rise in such conditions points to poor diet, a market is looking for natural solutions that counteract this trend.
In response, Provexis developed Sirco®, a fruit juice that contains a patented bioactive extract of tomato that inhibits platelet aggregation.  Within just three hours of consumption a noticeable effect is observable, reducing the risk of thrombosis which underpins heart attack and stroke.  This gives Sirco® elite status as one of only a few products available in supermarkets to carry a scientifically substantiated health claim: ‘Helps maintain a healthy heart and benefit circulation.’
In an increasingly health-conscious society looking for products which are both effective and natural in origin, Provexis aims to develop further novel, patented active food components for integration into innovative functional foods and beverages. These development programmes are typically undertaken in partnership with leading academic research establishments and always aim to develop products that have a health benefit which is both clearly defined and scientifically proven.

Market opportunity

A Mintel report published in August 2005 estimated the market for heart healthy products was worth $18bn per annum in the US alone. This market is forecast to grow by 16% by 2010.
In addition, a number of further products are in the pipeline.  These include a plantain extract which will underpin a novel medical food for the dietary management of Inflammatory Bowel Disease and a beverage containing a proprietary vegetable extract designed to reduce the risk of specific cancers.

Progress

During the early part of the year Provexis completed a reverse acquisition of Nutrinnovator Holdings plc, in the process securing additional funding and making its debut on AIM. Early 2006 saw the launch of the Sirco™ fruit juice and the announcement of a number of distribution deals with major UK supermarkets. In addition, the bioactive extract found in Sirco™ has been affirmed to be Generally Regarded as Safe (GRAS) by an independent Expert Panel in the US, paving the way for products containing it to be marketed in the US and Canada.

Website: www.provexis.com

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