Business
By-Health Fruitflow agreement and support in R&D
By-Health Fruitflow agreement and support in R&D.
About this update from Provexis Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3712R\n Provexis PLC\n 04 November 2021\n \n \n \n \n Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation. With the publication of this announcement, this information is now considered to be in the public domain.\n \n \n 4 November 2021\n \n Provexis plc\n \n \n ('Provexis' or the 'Company')\n \n \n \n \n Agreement between Provexis and By-Health for supply of Fruitflow and support in R&D\n \n \n \n \n Provexis, the business that develops, licenses and sells the proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient, is pleased to announce that it has entered into a long term strategic co-operation framework agreement (the 'Agreement') for Fruitflow with By-Health Co., Ltd. ('By-Health'), a listed Chinese dietary supplement business with a market capitalisation of approximately £5 billion.\n \n The Agreement, which will take full effect from 1 January 2023, gives By-Health exclusive supply and distribution rights to commercialise the Company's lead Fruitflow heart-health technology in Mainland China, Hong Kong, Macau, Taiwan and Australia (the 'Territories').\n \n Under the Agreement:\n \n \n · Provexis will be responsible for the manufacture, supply and sale of its Fruitflow heart-health functional food ingredient to By-Health, and it will contribute scientific expertise necessary for successful commercialisation.\n \n \n · By-Health will be responsible for the manufacture, marketing, and sale of Fruitflow based functional food and dietary supplement finished products in the Territories, through By-Health's extensive sales network. Dietary supplement products such as Fruitflow are required to be authorised by the relevant Government authorities in each of the Territories in respect of health claims.\n \n \n · By-Health will also have exclusive rights to act as the distributor of Fruitflow as an ingredient in the Territories, selling Fruitflow as an ingredient to other businesses in the Territories which wish to use Fruitflow to manufacture and sell their own Fruitflow based finished products in the Territories.\n \n \n · Provexis and By-Health will seek to collaborate on resea...