Plentex Limited (ASX: PRM) has entered into a non-binding Letter of Intent to acquire the Biovite business from Biovite Australia that will form the core its future business plan.
Biovite focuses on the discovery and development of a bioactive derived from micro-algae which has applications for a variety of dermatological conditions of the nails and skin in humans.
Plentex’s current business model revolves around the identification, sourcing, and planned production and marketing of high value products that can be extracted from both micro and macro algae.
With the acquisition of Biovite, Plentex will be able to market its proposed product range under the Biovite brand.
These include a “superfood” algae sold in powder and capsule form, a carotenoid that promotes eyehealth and an algae-based omega oil.
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