EV Tech investee, Provexis plc, discovers, develops and licenses new technologies for application in the nutraceutical and medical food markets.
Provexis Limited was founded in 1999 by Dr Bill Mullen of Angle plc to commercialise the Cardioflow® (formerly Fruitflow®) anti-thrombotic technology discovered at the Rowett Research Institute by Professor Asim Dutta Roy.
EV Tech first invested in the company in late 2002 to support early clinical trials for the technology, after recognising the significance of the potential applications in heart and cardiovascular health..
Cardioflow® is a novel bioactive ingredient extracted from tomatoes and has been clinically proven to maintain healthy blood flow by reducing the propensity to excessive blood clotting associated with cardiovascular disease. The benefits are now available to consumers via the Sirco® pure juice brand, produced under licence, which contains the CardioFlow® anti-thrombotic technology.
Since its initial investment of £300,000, EV Tech has continued to support the company and provide tranched investment against a number of key target milestones.
Recent developments include two additions to the R&D pipeline: a technology from the University of Liverpool for the treatment of clostridium difficile; and a technology from the University of Manchester for the treatment and prevention of peptic ulcers. The company has also recently announced that the authorisation process by the European Commission for the use of a health claim for the Cardioflow® anti-thrombotic benefits is at an advanced stage. Following completion of this process, the product will become the first technology to have a health claim adopted under Article 13(5) of EFSA’s new legislation.