Provexis (LON:PXS) the life sciences business that develops technologies used in functional and medical foods and drinks, has signed a long-term R&D agreement with the Institute of Food Research (IFR).

The deal means that Provexis (LON:PXS) will have exclusive access to a portfolio of potentially high-value intellectual property related to the treatment and reduction of systemic inflammation, from which it intends to develop commercial products.

The tie-up also includes Plant Bioscience Ltd (PBL), the technology transfer company for IFR. The parties have already collaborated on previous projects, with more recent work leading to the discovery of a broader effect in other areas of systemic inflammation, including cardiovascular inflammation. As a result, patents for a novel extract were filed jointly by Provexis (LON:PXS) IFR and PBL in 2008.

Provexis (LON:PXS) said the tie-up would give it a broad range of exclusive rights to the background and joint intellectual property. The partners will collaborate to develop the science, with major areas including clinical trials, extract development, further IP development, regulatory clearances and commercialisation.

The first phase of the project gives Provexis (LON:PXS) the exclusive option to license the technology from IFR and PBL and if successful in that phase, the company said it would move to fully in-license the technology rights.

Stephen Moon, the chief executive of Provexis (LON:PXS) said: “The collaboration with IFR is a further step in the continued expansion of Provexis (LON:PXS) and its product pipeline. The initial work to develop a cardiovascular claim and product complements our already recognised expertise in the heart health arena and in the longer term we feel we are ideally positioned to develop technologies that work to reduce the risk of some major cancers.”

Unlock the rest of this article with a 14 day trial

Unlock with Email
Unlock with Google

Already have an account?
Login here