DSM Invests in Ingredients Developer
Provexis' lead product is Fruitflow, a bioactive, patented extract from tomatoes that improves the blood flow, which is important in maintaining a healthy heart and cardiovascular system. Fruitflow has already attracted substantial interest from food manufacturers, including Unilever. Provexis also has other products and technologies in development that are of strategic interest to DSM.
Rietveld commented, "We are proud to be shareholder of Provexis. Their ingredients pipeline has valuable health benefits and attractive market potential in line with DSM's ambition levels. Their professional approach in attracting, developing and licensing interesting technologies is key to succeed in this competitive environment."
Stephen Moon, chief executive officer of Provexis plc, said, "We welcome DSM as a strategic shareholder in our company while we continue to strengthen the technical capability of the business in line with our strategy. We expect DSM to become a valuable shareholder of our company, with their extensive knowledge of both products and the market."
This investment brings the total number of current company participations of DSM Venturing to 20. Venturing forms an integral part of DSM's open innovation approach, focused on teaming up with innovative players all over the world. The company has earmarked up to 200 million euros for venturing investments until 2012.
From the September 2, 2008, Prepared Foods e-Flash