Provexis plc (20% holding)	> Download more information > Visit company website

Proven novel ingredients for functional foods

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 heart health product.  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 Fruitflow®, 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 Fruitflow® elite status as one of only a few products available 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.

Progress
During the year Provexis completed a £2 million placing.   In the food and dairy sector the Company signed a 12 month Exclusivity Agreement with Unilever in July 2006 and a long-term Collabroration Agreement in March 2007 with the goal of developing an advanced version of Fruitflow® .  The new format has now been manufactured in several extended pilot plant trails and the Company recently completed a successful trial in human subjects.  The Company are in discussions with Unilever about how this might be taken forward.

In the beverage sector, discussions regarding an Exclusive Agreement are underway with a global leader in beverage brands.  The Company is also carrying out a product application assessment of Fruitflow®  with a further global food and beverage corporation.

Work continues on a potential deep vein thrombosis product.  In the company year, the management team will accelerate its efforts to gain a foothold in the dietary supplement market.

Website: www.provexis.com

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