Provexis bemoans lack of functional food acquisitions
Announcing its interim results for the six months ending September 30 2010, the life sciences firm said that the supply chain for its flagship product Fruitflow (launched at Health Ingredients Europe in Madrid last month) is secure, with commercial partner DSM is in “discussions with potential customers in all major global markets” for it.
‘Platelet smoothing’ tomato extract Fruitflow currently comes in a syrup form suitable for beverages and dairy, with the heart health ingredient the only nutrient currently approved by EFSA (the European Food Safety Authority) on the basis of an article 13.5 proprietary science claim.
The EU-approved claim allows associated product packaging to state, “helps maintain normal platelet aggregation, which contributes to healthy blood flow” at an agreed optimum dose of 3g.
Dys-functional times?
Provexis is also currently conducting human trials on NSP#3G, its plantain extract to treat Crohn’s disease, but with a cash balance of £8.3m, Moon stressed the firm’s “significant focus on an acquisition strategy to strengthen the pipeline further”.
“While it is disappointing that no acquisitions have been made during the period, the board will continue to maintain a strict assessment of opportunities based around scientific credibility, intellectual property protection, value and commercial potential,” Moon said.
And despite the success of Fruitflow, he warned that “economic uncertainty and the uncertainty caused by the new European Commission health claims legislation” meant brand owners greeted innovation strategies with caution.
