Nutrition company Provexis has entered into an 12 month agreement with a major global branded food business that cannot be name due to confidentiality.
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The deal is for the joint development and use of heart-health technology used for Provexis’ patented brand Fruitflow, a bioactive food ingredient that combats thrombosis.
Provexis’ partner will develop a second-generation concentrated format of the Fruitflow product, increasing its applicability across all food, beverage, supplement and medical formats, the companies said.
Provexis has retained the right to commercialise the Fruitflow technology on a global basis in the areas of fruit juice and juice drinks.
Provexis chairman Dawson Buck said: “This is an important milestone for Provexis. This agreement with a major global brand owner will accelerate the development of our second generation Fruitflow technology. If all goes well, we expect to move to a long-term, global licensing deal with our partner within 12 months.
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By GlobalData“In addition, we will have a new technology platform to facilitate entry into the substantial consumer and medical categories that fall outside of the agreement, and to this end, we continue discussions with further potential licence partners.”
