TIDMPXS
RNS Number : 5033T
Provexis PLC
04 July 2018
4 July 2018
Provexis plc
Directorate change
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 delighted
to announce that Frédéric Boned has been appointed to the position
of Non-executive Director with immediate effect.
Frédéric Boned, a Swiss and French national aged 40, is EMEA
Vice President of DSM's Human Nutrition & Health business, a
part of DSM Nutritional Products.
Frédéric brings a wealth of sales and marketing knowledge and
expertise to the Company from a diverse working background.
Frédéric has a chemical engineering degree from the Engineering
School in Geneva, and an EMBA from the Business School of Lausanne.
Frédéric first joined DSM in 2012, holding a variety of senior
roles in DSM's Personal Care & Aroma Ingredients business
including Director of Personal Care EMEA and Senior Director of
Global Marketing and Innovation. Prior to DSM, Frédéric worked in
the Flavour and Fragrance industries, holding several sales and
marketing positions for over ten years at Givaudan.
Dawson Buck, Chairman of Provexis, commented:
'I am delighted to welcome Frédéric Boned to Provexis as a
Non-executive Director. Frédéric's proven sales and marketing
knowledge and expertise will help to drive Provexis and its core
Fruitflow product forward, and we look forward to Frédéric's input
as we progress the company's commercialisation strategy for its
Fruitflow(R)+ Omega-3 dietary supplement product.
Frédéric's appointment reflects the continued strength of the
long term relationship between Provexis and DSM, and the shared
interest of both companies in seeking to maximise the commercial
returns that can be achieved from Fruitflow.'
Provexis has a long-term Alliance Agreement with DSM Nutritional
Products for its core Fruitflow(R) heart health ingredient, which
has seen the Company collaborate with DSM to develop Fruitflow(R)
in all major global markets through sales as an ingredient to brand
owners in the food, beverage and dietary supplement categories. DSM
Nutritional Products is a subsidiary of Royal DSM NV, a company
listed on Euronext Amsterdam with a current market capitalisation
in excess of EUR15bn.
DSM Venturing BV, the corporate venturing unit of Royal DSM NV,
remains the Company's largest shareholder with an interest in
143,769,230 ordinary shares representing 7.6 per cent of the
Company's issued ordinary share capital.
There are no further disclosures to be made in accordance with
Schedule 2(g) of the AIM Rules for Companies.
- 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
Camilla Hume
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 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), and in June 2015 the Company confirmed
it had agreed significantly enhanced financial terms for its
Alliance Agreement with DSM for Fruitflow(R).
The Company's Alliance partner DSM Nutritional Products has
developed the market actively for the Company's novel, patented
Fruitflow(R) 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.
The Company reported in its interim results on 29 December 2017
that the Company and DSM had seen an encouraging increase in brand
awareness and customer interest in Fruitflow(R) in recent months,
with the total projected annual sales value of the prospective
sales pipeline for Fruitflow(R) continuing to increase and standing
then at a further new all-time high level.
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.
In June 2018 the Company announced that Fruitflow(R)+ Omega-3
will be listed in August 2018 in more than 660 Holland &
Barrett stores across the UK and Ireland, together with Holland
& Barrett Online.
The Company conducted a Key Opinion Leaders' roundtable event
for Fruitflow(R) in London in 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 and a video for Fruitflow(R)+ Omega-3
capsules targeting prospective consumers can be seen here
www.youtube.com/watch?v=P3HCSdyupEY&t=48s
The Company and DSM are keen to secure greater medical advocacy
for Fruitflow(R) and the roundtable event forms part of this
strategy.
The roundtable event is being supported by a broader consumer PR
campaign, and the Company's Fruitflow(R)+ Omega-3 dietary
supplement product has featured in a number of recent articles in
the UK national press which can be seen here
www.fruitflowplus.com/fruitflow-in-the-media
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) in powder format
significantly lowered average 24-hour systolic blood pressure
compared to placebo. Both systolic and diastolic blood pressure
were shown to be significantly lower whilst trial subjects were
awake, a clinically relevant reduction in blood pressure which is
expected to be of interest to a large number of consumers and
patients with a wide range of cardiovascular conditions. In
September 2017 the results from the blood pressure collaboration
were published in the International Journal of Food Sciences and
Nutrition.
In April 2017 the Company announced that it had entered into a
memorandum of understanding with BY-HEALTH Co., Ltd ('BY-HEALTH')
which is intended to result in a research and collaboration
agreement with BY-HEALTH for Fruitflow(R). The Company also
confirmed separately that Provexis and DSM are working with
BY-HEALTH to support the planned launch of some Fruitflow(R) based
products in the Chinese market.
BY-HEALTH is a substantial Chinese listed dietary supplement
business which is currently valued in excess of GBP2.5bn.
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
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