Business
Joint Venture Project
Joint Venture Project.
About this update from Provexis Plc
[{"type":"text","content":"\n RNS Number : 7543B Provexis PLC 21 August 2008 \n \n21 August 2008\n\nPROVEXIS plc\n('Provexis' or the 'Company')\n\nNEW TECHNOLOGY FOR CLOSTRIDIUM DIFFICILE\n\nProvexis plc (PXS.L), the life-science business that discovers, develops and licenses scientifically-proven functional food, medical food and dietary supplement technologies, announces the extension of its joint venture with ULive Enterprises Ltd ('ULive') into a new technology area.\n\nThe 75% Provexis-owned joint venture with ULive is to extend its activity into the development of a novel plant-derived formulation for the treatment and prevention of infections caused by invasive bacteria such as Clostridium difficile ('C.difficile'). \n\nC.difficile is a major cause of antibiotic-associated diarrhoea and colitis in humans and is often considered to be a 'superbug' as it is notoriously difficult to eliminate. It is increasingly prevalent among hospital patients and its eradication is an NHS priority. In 2007, a total of 57,388 cases were reported across the UK, of which 87% were in the over-65 age bracket, a group at high risk of both infection and complications resulting from infection. In the USA, at least 360,000 cases of infection per annum are caused by the bacteria. \n\nThe new technology project by the joint venture partners will develop a novel, patented and clinically-proven formulation to prevent interactions between bacteria of therapeutic interest including C.difficile and the lining of the human digestive tract. The proposed end-user product will be targeted at the medical food sector. \n\nULive has been established to commercialise intellectual property generated by the University of Liverpool's research activities. Provexis and ULive are currently developing a technology for patients with Crohn's Disease, which is to enter clinical trial in the second half of 2008.\n\nStephen Moon, Chief Executive Officer of Provexis plc, commented:\n\n'The new technology addresses an area identified by the Department of Health as a major cause of intestinal infections in hospitals, particularly in elderly patients. We are pleased to extend the joint venture with ULive to address this important area, further strengthening our pipeline.' \n\n-ends-\n\n For further i...