Business
Two new agreements with DSM & patent application
Two new agreements with DSM & patent application.
About this update from Provexis Plc
[{"type":"text","content":"\n \n \n \n Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation. With the publication of this announcement, this information is now considered to be in the public domain.\n \n \n \n \n \n \n \n \n \n 22 June 2022\n \n \n \n \n Provexis plc\n \n \n \n \n ('Provexis' or the 'Company')\n \n \n \n \n \n \n \n \n \n DSM Transfer of Business agreement for Fruitflow®\n \n \n \n \n DSM Premix and Market-Ready Solutions supply agreement for Fruitflow®\n \n \n \n \n Patent application - the use of Fruitflow® in modulating the gut microbiome\n \n \n \n \n \n \n Provexis, the business that develops, licenses and sells the proprietary, scientifically-proven Fruitflow® heart-health solutions ingredient, entered into an Alliance Agreement (the 'Alliance Agreement') for Fruitflow® with DSM Nutritional Products ('DSM') in June 2010, with a contractual term which runs to 31 December 2022.\n \n \n \n \n \n Provexis announced in September 2021 that the Company and DSM were engaged in constructive negotiations working towards a new agreement for Fruitflow for the period after 31 December 2022 to replace the Alliance Agreement, and the Company is pleased to announce that the parties have concluded their negotiations and have now entered into (i) a Transfer of Business agreement for Fruitflow and (ii) a Premix and Market-Ready Solutions supply agreement for Fruitflow, both to take effect from 1 January 2023.\n \n \n \n \n \n The Company is also delighted to announce the filing of a new patent application relating to the use of Fruitflow to confer health benefits in modulating the gut microbiome of humans. This follows the completion of a successful human study, the results of which (as stated in the patent application) strongly support the use of Fruitflow for modulating gut microbiota to confer a number of health benefits.\n \n \n \n \n \n Under the terms of the two new agreements with DSM, and the new patent application:\n \n \n \n \n \n ·\n DSM's existing and prospective pipeline customers for Fruitflow as a straight ingredient (not a Premix or Market-Ready solution) will transfer to become direct customers of Provexis WEF 1 January 2023. The customers which are set to be transf...