Business
Development Agreement - Replacement announcement
Development Agreement - Replacement announcement.
About this update from Provexis Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 9549B Provexis PLC 28 February 2011 \n \n\nProvexis plc (\"Provexis\" or the \"Company\")\n \nDevelopment Agreement with DSM Nutritional - Replacement\n \nIn the Provexis announcement released today at 7:00 am under RNS: 8783B, the words 'announces it has entered' in the third line of the first paragraph should have read 'announces that it is in advanced discussions to enter'. Also the comment made by Stephen Moon at the end of the announcement should not have been included. Otherwise the announcement is unchanged and the amended announcement is reproduced in full below. \n \n \n \n28 February 2011\n \nProvexis PLC\n \nDevelopment Agreement with DSM Nutritional Products - \n \n \nProvexis plc (\"Provexis\" or the \"Company\"), the life-science business that discovers, develops and licenses scientifically-proven functional food, medical food and dietary supplement technologies, announces that it is in advanced discussions to enter into a development agreement (the \"Agreement\") with DSM Nutritional Products (\"DSM\" and together with Provexis, the \"Partners\") to commercialise DSM owned intellectual property through the development of a product for the promotion of healthy blood glucose levels. \n \nUnder the Agreement, it is the intention that Provexis will develop a cost effective product, carry out clinical trials and gain the necessary regulatory clearances. DSM will contribute intellectual property and know-how to the development programme and will assist in areas such as obtaining regulatory clearances. The Partners will together identify the most appropriate commercialisation arrangements before the product is launched. \n \nMaintaining healthy blood glucose levels, both before and after meals, is of increasing importance as it is believed that high blood glucose levels contribute to obesity and diabetes. The benefits of maintaining healthy blood glucose levels are considered to be increasingly relevant not only in diabetics and pre-diabetics but also in the wider population as a whole. It was estimated in 2010[1] that 25.8 million US residents (8.3% of the population) suffer from diabetes, with an estimated 79 million Americans over the age of 20 having pre-diabetes. It is believed that people with diabetes have a higher than averag...