Business
Collaboration agreement
Collaboration agreement.
About this update from Provexis Plc
[{"type":"text","content":"\n Provexis PLC\n30 March 2007\n\n30 March 2007\n\n PROVEXIS PLC\n ('Provexis' or the 'Company')\n\n Provexis and Unilever to co-develop Fruitflow(R) technology for application in\n food products that benefit healthy blood flow\n\nProvexis, developer of scientifically-proven functional and medical foods,\nannounces that it has entered into a long-term collaboration agreement with\nUnilever plc to develop a new format of its patented Fruitflow(R) heart-health\ntechnology for application in Unilever's Food product portfolio.\n\nFruitflow(R) is a patented natural extract from tomato which has been shown in\nhuman trials to reduce the propensity for aberrant blood clotting, typically\nassociated with cardiovascular disease, which can lead to heart attack or\nstroke. Unilever has substantial global brands in the heart-health market,\nprimarily its Flora/Becel spreads and drinking yoghurts. In 2005 the market for\nheart benefit foods was worth $4bn globally.\n\nUnder the terms of the agreement, Provexis and Unilever (the 'Partners') will\ndevelop a second-generation concentrated format of the Fruitflow(R) product for\ninclusion in Unilever branded products. Subject to clearance of various\ntechnical, regulatory and economic issues, the Partners plan to enter into a\nglobal licence arrangement for the Fruitflow(R) technology. In addition to the\ndevelopment of the new format, the Partners will also seek to develop other new\nintellectual property in further related products and processes during the\ncourse of the collaboration. In the event of a Fruitflow(R) technology licence\nagreement not being concluded for any technical, regulatory or economic reason,\nthe collaboration on new intellectual property will continue for a further three\nyears.\n\nUnder the scope of the collaboration agreement and any subsequent licence\nagreement, Provexis will grant exclusive rights for certain food and beverage\ncategories to Unilever, while retaining exclusive global rights to commercialise\nFruitflow(R) in drinks (excluding mini-drinks) containing fruit juice; products\nmarketed for deep vein thrombosis (DVT), over the counter medicines, medical\nfoods, dietary supplements and prescribed medical products. Categories outside\nof the exclusive rights granted are available to Unilever on a non-exclusive\nbasis.\n\n\nCommenting on the signing of the c...