Positive Provexis lines up more trials
BIOTECH firm Provexis has added to its research team in Liverpool and says it is “positive” about the year ahead.
In a pre-close update for the year to March 31 the company said it expects to report on a year of good progress in commercialising and developing its pipeline of functional food, medical food and dietary supplements when it publishes figures in June.
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.
It is now working closely with its partner, the Dutch multinational DSM Nutritional Products, to commercialise Fruitflow in major global markets
Provexis said it is continuing to make progress with its development pipeline through its research and development teams at the Rowett Institute in Aberdeen and at Merseybio in Liverpool where another senior scientist has joined the team.
The company is also conducting trials of a product for people with Crohn’s disease, an inflammatory disease of the gastrointestinal tract.
Further trials will be carried out this year, one with the Institute of Food Research for reduction of cardiovascular inflammation, the second with the University of Liverpool for treatment of the hospital superbug c.difficile.
Provexis expects to have £7.6m in cash at the year end and these resources are sufficient for it commercialise its development pipeline.
Chief executive Stephen Moon said: “We are working actively with DSM to maximise the commercial opportunity for Fruitflow and we are positive about the prospects for the coming financial year.
“While patient recruitment has resulted in slower than planned progress on the Crohn’s disease trial, we remain committed to this programme, given the commercial opportunity related to this debilitating disease. The broader pipeline in gastrointestinal and cardiovascular technologies looks very promising and we are pleased with progress during the year. We look forward to updating shareholders on positive developments during the next financial year.”
