Business
Interim Results and Total Voting Rights
Interim Results and Total Voting Rights.
About this update from Provexis Plc
[{"type":"text","content":"\n \nRNS Number : 3714Y Provexis PLC 31 December 2019 \n\n31 December 2019\n \nProvexis plc\n \nUNAUDITED INTERIM RESULTS FOR SIX MONTHS TO 30 SEPTEMBER 2019\nAND TOTAL VOTING RIGHTS\n \nProvexis plc (\"Provexis\" or the \"Company\"), the business that develops, licenses and sells the proprietary, scientifically-proven Fruitflow® heart-health functional food ingredient, announces its unaudited interim results for the six months ended 30 September 2019.\n \nHighlights\n \n· Total revenue for the period of £222k, 15% ahead of the prior year (2018: £194k) and an all-time high number in the first half of the year for the Fruitflow business.\n \n· Planned launch by By-Health, a £3bn listed Chinese dietary supplement business, of a number of Fruitflow based products in the Chinese market is progressing well. Potential sales volumes remain at a significant multiple of existing Fruitflow sales.\n \n· By-Health has made a significant investment in nine separate studies in China, at its sole expense, in support of the Fruitflow based products which it plans to launch in China. Studies conducted in China are needed to obtain 'blue cap' health claim status for dietary supplements, as required by the Chinese State Administration for Market Regulation (SAMR).\n \n· The five studies which have been completed by By-Health showed excellent results in use for Fruitflow, and provide strong evidence for By-Health in its regulatory submissions for Fruitflow. If a successful blue cap health claim is achieved it would be expected to result in some significant orders for Fruitflow, potentially at a multiple of Fruitflow's existing annual sales.\n \n· Open-ended collaboration agreement secured with By-Health in August 2019, with project work to be managed and conducted by Provexis primarily in the UK; initial project agreed which will concentrate on the use of Fruitflow with nitrates in exercise, an area of considerable commercial interest to By-Health in China. The agreement further strengthens the close relationship between By-Health and Provexis.\n \n· The Company and its commercial partner DSM have seen an encouraging...