News blog
Provexis
- BY: Andrew Hore |
- POSTED: 30/12/2014 |
Functional food ingredients supplier Provexis has developed a stronger base with its partner DSM which it can build on this year.
There are more than 30 regional consumer healthcare brands contains the company’s Fruitflow heart-health ingredient and more projects are being negotiated. The cost of producing Fruitflow powder is being reduced.
In the six months to September 2014, Provexis generated modest revenues but the underlying loss declined from £408,000 to £177,000 due to lower admin costs due to the move to a licensing model. The revenues relate to a profit share with Fruitflow powder manufacturer DSM Nutritional Products.
There was a £198,000 cash outflow from operations in the first half and £366,000 in the bank at the end of September 2014. Provexis recently raised £125,000 at 0.59p a share from its Darwin equity financing facility.
In October, Provexis started to collaborate with the University of Oslo into research on the relationship between Fruitflow and blood pressure regulation. The long-term focus is circulation and blood flow issues.
At 0.6p a share, Provexis is valued at £9.51m.
AIM Journal December 2014 available.
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