Tomato extract marketer Provexis (LON:PXS) saw revenues tick higher in its latest half year as it signed new terms with its main distributor.
The group’s Fruitflow extract, which may help reduce systolic blood pressure, is now being used in 45 consumer healthcare brands launched by customers of DSM, its distributor, Provexis said.
A collaboration with the University of Oslo had also produced strong evidence that a standard dose of Fruitflow has the potential to give a clinically relevant reduction in systolic blood pressure.
Provexis now aims to launch a supplement combining Fruitflow and an Omega-3 dietary product through its own website.
Revenue for the first half of the year rose five-fold due to the benefit of the new terms with DSM and these will continue to have a benefit going forward, it added.
Revenues in the half year were still tiny at £41,000 (£8,000), while the loss before tax was £228,000 (£206,000) and Provexis said it will need to raise more money over the next nine months. Cash at the end of September was £350,000 after it raised £267,000 though a crowdfunding in June.
Dawson Buck, chairman, said the first six months of the year have seen a number of very positive developments for the business and he remained positive over the outlook for the second half of the year and beyond.