Business
Audited Results Year ended 31
Audited Results Year ended 31.
About this update from Provexis Plc
[{"type":"text","content":"\n RNS Number : 5572T Provexis PLC 09 June 2009 \n \n9 June 2009\nProvexis plc\n('Provexis' or the 'Company')\n\nAUDITED RESULTS for the YEAR ended 31 MARCH 2009\n\nProvexis plc (PXS.L), the life-science business that discovers, develops and licenses scientifically-proven functional food, medical food and dietary supplement technologies, announces its audited results for the year ended 31 March 2009.\n\nKey highlights\n\n\n\nAugust placing of £2.5m of new ordinary shares of 0.1p each at 0.65p per share and October placing of £0.2m of new ordinary shares of 0.1p each at 0.65p per share providing working capital and funding for new product pipeline development.\n\n\n\n\n\nDSM Venturing take strategic investment of 28.2% in the Company.\n\n\n\n\n\nCompany in advanced license negotiations with a global ingredients manufacturer for the rights to use Fruitflow®.\n\n\n\n\n\nCommercial discussions for Fruitflow® continue with potential global license partners for the dairy sector, in addition to further assessment and development work with Coca-Cola.\n\n\n\n\n\nFruitflow® gains first ever Article 13(5) adoption of scientific substantiation of health claim under European Food Safety Authority regulatory framework.\n\n\n\n\n\nCrohn's Disease clinical trial approved by regulator, with two-centre trial to commence shortly.\n\n\n\n\n\nAssessment of new technology for treatment and prevention of peptic ulcers on track.\n\n\n\n\n\nSteve Morrison appointed Chief Operating Officer effective 1 October 2008 and Krijn Rietveld, DSM Senior Vice President, appointed as Non-executive Director on 29 August 2008.\n\n\n\n\nKey financial results\n\n\n\nLoss attributable to equity shareholders £4,570,506 (2008: £1,189,117).\n\n\n\n\n\nLoss includes a non-cash goodwill impairment charge of £3,099,328 (2008: £NIL)\n\n\n\n\n\nCash balance £1,678,263 (2008: £532,581).\n\n\n\n\n\nLoss per share from continuing operations 0.71p (2008: 0.26p).\n\n\n\n\n\nAdjusted loss per share from continuing operations, net of goodwill impairment 0.23p (2008: 0.26p).\n\n\n\n\nStephen Moon, Chief Executive Officer of Provexis plc, commented:\n\n'While the very difficult economic climate is affecting us and all companies in our sector, we continue to make progress. We are at an advanced stage of license negotiations with a global ingredients manufac...