Provexis partners with DSM for new product
BIOTECH firm Provexis has signed a deal with Dutch multinational DSM Nutritional Products to develop a new product aimed at promoting healthy blood glucose levels.
The AIM-listed company, which has its research and development facility in Liverpool, has already developed Fruitflow, a tomato-based drink which thins the blood and helps circulation.
Under the agreement DSM will contribute the intellectual property while Provexis will develop a “cost effective” product, carry out clinical trials and gain the required regulatory clearances.
The company said sales of foods and drinks targeted to address heart health conditions are growing and the market is said to be worth around £5bn in the US and Europe.
Chief executive Stephen Moon said: “In recent months we have assessed the technology and we believe that it will strengthen further our pipeline of cardiovascular-related technologies.
“The collaborative approach facilitated by the agreement will allow for the most effective commercialisation of the technology. In addition to this important new pipeline technology, the management team continues to assess further potential acquisitions.”
Provexis already has a long-term alliance with DSM to commercialise Fruitflow in major global markets.
