Shares in Provexis (AIM:PXS) PLC jumped by 12% on Wednesday morning after the company announced partner BYHEALTH has applied to sell the former’s Fruitflow health food ingredient in China.
BYHEALTH submitted the application aimed at obtaining a new permit on Tuesday, Provexis (AIM:PXS) said in a statement, after having worked on the project since 2015.
“If BYHEALTH is successful in obtaining a new permitted health function claim in China for functional health foods […] it is expected that this would result in some significant orders for Fruitflow, potentially at a multiple of current total sales values,” Provexis (AIM:PXS) said.
Studies have previously shown “strong evidence for the efficacy of Fruitflow”, the AIM-listed company added, with Chinese-listed BYHEALTH having invested significantly in the tests.
Shares climbed 12% to 0.7p on the news.