Business
Exclusivity Agreement
Exclusivity Agreement.
About this update from Provexis Plc
[{"type":"text","content":"\n Provexis PLC\n24 July 2006\n\n\n PROVEXIS PLC\n\n ('Provexis' or the 'Company')\n\n Exclusivity Agreement\n\n\nProvexis, the nutraceutical company that develops scientifically-proven\nfunctional and medical foods, announces that it has entered into an exclusivity\nagreement for a period of 12 months with a major global branded food business\n('Partner'), who, for reasons of confidentiality, cannot be named, for the joint\ndevelopment and use of its patented Fruitflow(TM)heart-health technology.\nFruitflow(TM)is a bioactive food ingredient that reduces blood platelet\naggregation, a significant contributing factor to thrombosis, which can cause\nheart attack or stroke.\n\nUnder the terms of the agreement, Provexis and its Partner will develop a\nsecond-generation concentrated format of the Fruitflow(TM)product. The new\nformat will increase its applicability across all food, beverage, supplement and\nmedical formats. During the 12 month exclusivity period, the companies intend to\nensure technical and economic targets for the new format are met, and to\nnegotiate a global licence and supply arrangement for the FruitflowTM\ntechnology.\n\nAccording to Leatherhead Food International the market for heart benefit foods\nis worth $4bn globally.\n\nThe scope of the exclusivity agreement covers all food and beverage formats\nglobally, with some specific exemptions. Provexis retains the right to\ncommercialise the Fruitflow(TM)technology on a global basis in the areas of\nfruit juice and juice drinks, products marketed for deep vein thrombosis (DVT),\ndietary supplements and prescribed medical products.\nCommenting on the signing of the exclusivity agreement, Dawson Buck, Chairman of\nProvexis said:\n\n'This is an important milestone for Provexis. This agreement with a major global\nbrand owner will accelerate the development of our second generation\nFruitflow(TM) technology. If all goes well, we expect to move to a long-term,\nglobal licensing deal with our partner within 12 months. In addition, we will\nhave a new technology platform to facilitate entry into the substantial consumer\nand medical categories that fall outside of the agreement, and to this end, we\ncontinue discussions with further potential licence partners.'\n\n \n\nFor further information please contact:\n\nStephen Moon, Commercial Director Tel: 020 8392 6634\nProv...