Business
Re Agreement
Re Agreement.
About this update from Provexis Plc
[{"type":"text","content":"\n RNS Number : 7429K Provexis PLC 26 April 2010 \n \n\n26 April 2010\n \nProvexis PLC\n \nCollaboration Agreement\n \nStrengthened pipeline through tie-up with Institute of Food Research\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 has entered into a long-term research and development collaboration agreement with the Institute of Food Research (\"IFR\") and Plant Bioscience Limited (\"PBL') the technology transfer company for IFR. As part of the agreement, Provexis has been granted exclusive access to a portfolio of potentially high-value intellectual property related to the treatment and reduction of systemic inflammation, from which it intends to develop commercial products. \n \nProfessor Richard Mithen of IFR has developed a substantial body of work over twenty years in the area of isothiocyanates for the reduction of risk of certain major cancers. More recent work, some in collaboration with Provexis, has led to the discovery of a broader effect in other areas of systemic inflammation, including cardiovascular inflammation. As a result patents for a novel extract were filed jointly by Provexis, IFR and PBL in 2008. \n \nThis new collaboration gives Provexis a broad range of exclusive rights to the background and joint intellectual property. The partners will collaborate to develop the science, with major areas including clinical trials, extract development, further IP development, regulatory clearances and commercialisation. The first phase of the project gives Provexis the exclusive option to license the technology from IFR and PBL and if successful in this phase, Provexis intend to move to fully in-license the technology rights.\n \nInitially the Company, supported by IFR's substantial research, will focus on developing commercial products targeting the reduction of cardiovascular inflammation. A second, longer-term objective is to develop technologies designed to mitigate the risk of certain major cancers. \n \nStephen Moon, CEO of Provexis said:\n \n\"The collaboration with IFR is a further step in the continued expansion of Provexis and its product pipeline. The initial work to develop a cardi...