Provexis has issued its audited preliminary results for the year ended 31 March 2016.
- Revenue from profit sharing Alliance for the year £92k, a 140% year on year increase (2015: £38k).
- Profit sharing Alliance revenues are denominated in Euros; underlying profit share payable in Euros increased by 157% year on year, offset at actual exchange rates by a stronger average sterling/Euro rate in the year to 31 March 2016.
- Over 50 regional consumer healthcare brands containing Fruitflow now launched by DSM's customers, with further regional brands launched through DSM's distributor channels.
- An increasing number of further commercial projects have been initiated by DSM with prospective customers, including some prospective customers which are part of global businesses. Total value of the prospective sales pipeline continues to increase.
- Company launched its Fruitflow + Omega-3 dietary supplement product in June 2016, a two-in-one supplement in an easy to take capsule supporting healthy blood flow and normal heart function. Product is exclusively available through the new e-commerce website www.fruitflowplus.com.
- Key Opinion Leaders' roundtable event for Fruitflow to take place in London on 29 September 2016, promoting Fruitflow more widely across key digital and other mainstream media channels; event will be supported by a broader consumer PR campaign for the Fruitflow + Omega-3 capsules product.
- Important scientific study for Fruitflow published in the European Journal of Nutrition in July 2016, further study publications envisaged.
- Company and DSM are committed to a number of other ongoing scientific and marketing initiatives for Fruitflow and the Company's Fruitflow + Omega-3 capsules, seeking to extend the reach of the existing science and give the products further global exposure.
- Encouraging key results released in June 2015 from the Company's collaboration agreement with the University of Oslo to undertake further research into the relationship between Fruitflow and blood pressure regulation. The Company and the University expect to be able to complete current clinical trial in Oslo and announce the trial results in Q4 2016.
- Company raised £224k through a placing in August 2016 with no commissions or expenses payable.