TIDMPXS
RNS Number : 3453F
Provexis PLC
16 November 2020
Prior to publication, the information contained within this
announcement was deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU)
No. 596/2014 ('MAR'). With the publication of this announcement,
this information is now considered to be in the public domain.
16 November 2020
Provexis plc
('Provexis' or the 'Company')
Exclusive Distribution Agreement f or Chinese Cross-Border
e-commerce ('CBEC')
Provexis, the business that develops, licenses and sells the
proprietary, scientifically-proven Fruitflow(R) heart-health
functional food ingredient, is pleased to announce it has entered
into a distribution agreement with a company ('the Distributor')
which will act as the distributor for Fruitflow+ Omega-3 in China,
exclusively through the Chinese Cross-Border e-commerce ('CBEC')
channel.
CBEC regulations include a waiver of the existing Chinese
pre-importation registration requirements on specified categories
of products, permitting overseas exporters to sell consumer goods
directly to Chinese consumers through certain registered e-commerce
platforms.
The agreement announced today grants the Distributor exclusive
rights to import, market and sell the Company's Fruitflow+ Omega-3
dietary supplement product in China through the CBEC channel, with
immediate effect. The Distributor will purchase Fruitflow+ Omega-3
as required from the Company, and the Distributor will then market
and sell Fruitflow+ Omega-3 in China through its existing network
of e-commerce and other sales channels.
Fruitflow+ Omega-3 is currently available to purchase from the
Company's e-commerce website www.fruitflowplus.com , Amazon UK and
Holland & Barrett. Subscriber numbers on the fruitflowplus.com
website have been growing steadily, and they currently stand at a
further new all-time high level.
The Company has recently completed a redesign of the existing
Fruitflow+ Omega-3 packaging, to include a new single blister pack
format, with this new packaging having been optimised for sales
through CBEC by the Distributor in China.
BYHEALTH Co., Ltd.
The Company has been working since 2016 with BYHEALTH Co., Ltd
('By-Health'), a listed Chinese dietary supplement business valued
at approximately GBP5bn, to support the planned launch of a number
of Fruitflow based products in the Chinese market. The Company also
has an open-ended collaboration agreement with By-Health which was
announced in August 2019.
By-Health's activities are driven at present by the need to
obtain 'blue cap' health claim status for Fruitflow as a dietary
supplement with the Chinese State Administration for Market
Regulation. By-Health has made a significant investment in nine
separate studies in China, at its sole expense, in support of the
Fruitflow based products which it plans to launch in China.
The distribution agreement announced today is separate but
wholly complementary to the Company's work with By-Health, with the
CBEC regulations enabling the Distributor to sell Fruitflow+
Omega-3 in China now, prior to the blue cap health claim which
By-Health is seeking to secure. If a successful blue cap health
claim is achieved by By-Health for Fruitflow it would currently be
expected to result in some significant orders for the product,
potentially at a multiple of current total sales values.
The Chairman of By-Health, Mr Liang, referred to By-Health's
interest in and development of anti-platelet aggregation products
in an important speech on 28 October 2020 marking By-Health's
25(th) anniversary www.by-health.com/en/newsitem/36255 .
Fruitflow and Cardiovascular disease (CVD)
There are more than 290m people in China who are currently
thought to have cardiovascular disease, a major public health issue
for the country, and this upward trend is projected to continue
(source: China cardiovascular diseases report 2018: an updated
summary -
www.ncbi.nlm.nih.gov/pmc/articles/PMC7008101 ). CVD also remains
the leading cause of death globally (source: WHO - Cardiovascular
Diseases - www.who.int/health-topics/cardiovascular-diseases ).
Fruitflow is a natural, breakthrough antiplatelet ingredient
that contributes to normal blood flow and circulation, which
benefits cardiovascular health. The science behind Fruitflow has
been validated by leading peer review publications and regulatory
authorities, and the product remains the only natural antiplatelet
to have secured a health claim approved by the European Food Safety
Authority stating that 150mg of Fruitflow 'helps maintain normal
platelet aggregation, which contributes to healthy blood flow'.
Fruitflow has a number of other specific health benefits which
have been reflected in separate patent filings for the use of
Fruitflow in:
-- mitigating exercise-induced inflammation;
-- managing blood pressure; and
-- protecting against the adverse effects of air pollution on
the body's cardiovascular system. Laboratory work has shown that
Fruitflow can reduce the platelet activation caused by airborne
particulate matter, such as that from diesel emissions, by
approximately one third.
The Company believes that Fruitflow has the potential to play an
important role in the Chinese cardiovascular health market, with
many attributes of the product being particularly relevant for
Chinese consumers.
Ian Ford, CEO of Provexis, commented:
'We are delighted to announce this distribution agreement for
Fruitflow+ Omega-3 in China through the CBEC channel, at a time of
record online spending in China.
More than 290m people in China are now thought to have
cardiovascular disease, an upward trend which is projected to
continue. The Company's Fruitflow+ Omega-3 product has a number of
proven attributes which are expected to be particularly relevant
for Chinese consumers, and these attributes will be promoted
strongly by the Company's new distributor.
The Company believes that Fruitflow has the potential to play an
important role in the Chinese cardiovascular health market, and it
looks forward to a long and successful association with its new
distributor for Fruitflow+ Omega-3 in China, through the CBEC
channel.'
For further information please contact:
Provexis plc Tel: 07490 391888
Ian Ford, CEO enquiries@provexis.com
Dr Niamh O'Kennedy, CSO
Allenby Capital Limited (Nominated Tel: 020 3328 5656
Adviser)
Nick Naylor / Liz Kirchner
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.
Fruitflow is a natural, breakthrough ingredient that helps with
platelet aggregation. This helps promote normal blood flow and
circulation, which in turn benefits cardiovascular health.
Fruitflow helps the platelets to circulate freely and smoothly
throughout your blood, without sticking to one another or to the
blood vessels themselves. Freely flowing blood helps reduce stress
on your cardiovascular system.
Fruitflow is a highly concentrated form of bioactives which is
lycopene-free and contains over 30 known anti-platelet compounds.
Published clinical studies have shown that Fruitflow works to
maintain healthy blood flow in a similar way to 75mg aspirin but
with a milder and reversible action; Fruitflow has a similar
antiplatelet effect to a single dose of aspirin - but when taken
daily, it has none of aspirin's side effects.
The science behind Fruitflow has been validated by leading peer
review publications and regulatory authorities. Fruitflow is the
only natural antiplatelet to have a health claim approved by the
European Food Safety Authority, stating that 150mg of Fruitflow
'helps maintain normal platelet aggregation, which contributes to
healthy blood flow'.
Provexis plc entered into a long-term Alliance Agreement with
DSM Nutritional Products in 2010 to commercialise Fruitflow through
sales as an ingredient to brand owners in the food, beverage and
dietary supplement categories. 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.
Fruitflow has a number of specific health benefits which have
been reflected in separate patent filings for the use of Fruitflow
in:
-- mitigating exercise-induced inflammation;
-- managing blood pressure; and
-- Protecting against the adverse effects of air pollution on
the body's cardiovascular system. Laboratory work has shown that
Fruitflow can reduce the platelet activation caused by airborne
particulate matter, such as that from diesel emissions, by
approximately one third.
Provexis sells a high quality dietary supplement product
containing Fruitflow and Omega-3 from its separate website
www.fruitflowplus.com on a mail order basis. The product is also
available to purchase from Amazon.co.uk and from Holland &
Barrett.
The Company is working closely with By-health Co., Ltd, a GBP5bn
listed Chinese dietary supplement business, to support the planned
launch of some Fruitflow based products in the Chinese market. The
planned launch is progressing well with potential sales volumes
remaining at a significant multiple of existing Fruitflow
sales.
By-Health has made a significant investment in nine separate
clinical studies in China, at its sole expense, in support of the
Fruitflow based products which it plans to launch in China. The
five studies which have been completed by By-Health showed
excellent results in use for Fruitflow, and provide strong evidence
for By-Health in its regulatory submissions for Fruitflow.
If a successful blue cap health claim is achieved for Fruitflow
in China it would currently be expected to result in some
significant recurring orders for Fruitflow, at a multiple of
current total sales values.
COVID-19
The Company and DSM have experienced increased consumer interest
for Fruitflow in recent months, in light of the COVID-19 pandemic,
as consumers look to nutritional interventions to help them fortify
the circulatory system against the effects of COVID-19. The Company
and DSM will look to maximise the commercial opportunities arising
from this increased consumer interest in Fruitflow, and will
further promote the core blood circulatory and anti-inflammatory
benefits of the product.
In September 2020 Fruitflow was recognised in a review article
by the Frontiers in Nutrition journal
www.frontiersin.org/articles/10.3389/fnut.2020.583080/full which
stated that nutraceuticals such as Fruitflow may serve as:
'A safe antiplatelet prophylactic treatment for those at high
risk of COVID-19 who may also be at increased risk of thrombotic
complications and an alternative to pharmacological compounds that
may cause greater risk of bleeding.'
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 and
www.fruitflowplus.com.
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