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Oxford Nutrascience Group
- BY: Andrew Hore |
- POSTED: 14/02/2010 |
Oxford Nutrascience Group joined Aim on 12 February.
Oxford Nutrascience raised £1.1m (£890,000 net) at 1.75p a share. That valued the consumer healthcare company at £8.12m. The main business had previously raised £1.04m from backers. That business was acquired by the holding company in January 2010 for £6.42m in shares - at a price of 1.6p each.
Oxford Nutrascience is developing delivery systems for medicines and supplements which use prebiotic soluble fibre technology. The products include chewable tablets, chewy confectionery and liquid suspensions (solid particles in a liquid). They are designed for people who have difficulty swallowing pills.
Oxford Nutrascience was formed in February 2008 but at least some of the core technology appears to come from the management‘s previous company Super Foods Ltd. Nottingham-based Super Foods Ltd was placed in members and creditors liquidation on 20 March 2008 and is now classed as dissolved on the Companies House website.
Ellactiva, a calcium chewy supplement which was originally launched by Super Foods Ltd in 2004, is the main generator of revenues for Oxford Nutrascience, which remain modest. Ellactiva has been sold in Boots since 2004.
Oxford Nutrascience was backed by Aim-quoted investment company and broker owner ORA Capital, which still owns 34.9%.
Oxford Nutrascience wants to licence technology to pharma companies supplying over the counter and prescription drugs.
The shares ended the first day at 1.875p each, which values the company at £8.72m.
www.oxfordnutrascience.com
www.ellactiva.com
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