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Tuesday 12 May, 2020

Phynova Group Ltd

Royal DSM backs EUR 10m funding to fight obesity

RNS Number : 6164M
Phynova Group Ltd
12 May 2020
 

 

Press Release 

 

12 May 2020 

 

DSM Venturing cornerstones €10m funding round as Oxford-based Phynova Group Ltd

(or "Phynova") progresses its blood-glucose Reducose® technology to commercial success 

 

DSM Venturing, part of Royal DSM, a global leader in nutrition, health, and sustainable living, is the cornerstone investor in Oxford-based Phynova's €10m funding round.  Phynova is working towards fulfilling significant commercial orders for its Reducose® technology in Europe, China and North America, which addresses the global issue of excessive blood-glucose levels, that can lead to severe conditions such as diabetes, obesity and cardiovascular disease. 

 

Reducose® is a patent-protected ingredient which is easily added to foods and drinks at the manufacturing stage or taken as a food supplement.  It is derived from white mulberry leaves (Morus Alba) and is part of Phynova's stable of natural healthcare products developed from active compounds found in plants.  The Company's Phynova Joint and Muscle Relief Tablets™, which is based on the Chinese plant-remedy Sigesbeckia, was in 2015 the first traditional Chinese medicine product to be licensed by the UK's Medicines and Healthcare products Regulatory Agency (MHRA) as an over-the counter (OTC) product under the EU's Traditional Herbal Medicinal Products (THMP) Directive. 

 

Reducose® reduces the impact of high-glycaemic sugars, as well as other carbohydrates, on the body.  It does this by reducing the absorption of sugars and other carbohydrates in meals by up to 40% and has undergone rigorous safety and human efficacy testing.  Diabetes and pre-diabetes are a rapidly growing health issues with an estimated 1 billion adults affected globally.  C onverging societal trends, including public awareness of the impact of sugar on the body and wearable technology to measure blood glucose, are fuelling a huge market opportunity.

 

DSM Venturing is joining an impressive list of current shareholders including Unicorn Asset Management.  Dr. Rob Beudeker, Investment Director at DSM Venturing, will be joining Phynova's Board.  DSM Venturing currently has over 35 companies in its portfolio. 

 

Robert Miller, Chief Executive of Phynova, said: "DSM is a high-calibre cornerstone investor and it being represented on Phynova's Board is testament to Phynova's developing position with its unique, proprietary plant-derived products.  The interest in science-based natural products for maintaining and improving health already has a significant worldwide market and is set to grow substantially.  We have had a formal collaboration agreement with DSM since 2018 and now they wish to invest as the company progresses Reducose® to commercial Success." 

 

 

Phynova is advised by Dr. Janita Good, co-head of Life Sciences, at leading European law firm, Fieldfisher, who guided Phynova through the complexities of this deal.  Commenting on the transaction she added:  "Life Sciences is a key sector for Fieldfisher and I'm delighted to have been involved on this monumental deal.  Making Reducose available through foods as an ingredient and as a supplement could revolutionise the management of excessive blood-glucose levels for those affected by it.  This project is a particularly complex strategic investment involving multiple shareholders, but after months of dedication by all those involved, I'm pleased to see DSM and Phynova in partnership."

 

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Media enquiries. 

 

Given social distancing preventing many from normal office operations, if you cannot make contact by telephone, please email a telephone number to whoever you are trying to reach, and they will call you straight back.  Please copy Abchurch in on such emails. 

 

Abchurch (Financial and Corporate PR)

 

Julian Bosdet, Chief Executive 

Tel: +44 (0)20 4594 4070

[email protected]

www.abchurch-group.com

 

Phynova Group Plc 

 

Robert Miller, Chief Executive 

 

Tel:  +44 (0) 1993 880 700

[email protected]

www.phynova.com

www.reducose.com

 

 

DSM Venturing BV

 

Jackie Guscott

 

[email protected]

www.dsm.com/venturing

+31 615 59 0227

 

Fieldfisher LLP

 

Dr. Janita Good

International co- Head of Life Sciences

 

Tel: +44 (0) 207 861 4615

[email protected]

www.fieldfisher.com/en/sectors/life-sciences

 

 

 

 

Notes to Editors. 

 

Reducose

 

Reducose® is a patent protected functional ingredient derived from white mulberry leaves (Morus alba).  It can easily be incorporated into foods and drinks or taken as a supplement.  It reduces the impact of high-glycaemic sugars, as well as other carbohydrates, on the body.  It does this by reducing the absorption of sugars and other carbohydrates by up to 40%. 

 

Reducose® has undergone rigorous safety and human efficacy testing.  For more information please visit www.reducose.com

 

Diabetes is a rapidly growing health issue with an estimated 425 million adults affected globally.  The incidence of prediabetes is even higher with an estimated 1 billion adults affected globally.  Two trends are converging with these increasing numbers and the related healthcare costs: governments are actively working to increase consumer awareness about healthy nutrition and reduction of high-glycaemic foods and, secondly, there is a new generation of non-invasive wearable devices coming to the market that will be able to continuously monitor and make people aware of their blood glucose status. 

 

Phynova Group Ltd

 

Phynova is an innovative British life science company that develops and commercialises natural healthcare products derived from active compounds found in plants. Founded in 2002, Phynova is based near Oxford, UK with a subsidiary research company located in Beijing, China.

 

Phynova identifies active ingredients from plants with a rich history of use in traditional medicine and develops and commercialises solutions for global health concerns. More information can be found at www.phynova.com.

 

DSM - Bright Science. Brighter Living.™

 

Royal DSM is a global, purpose-led, science-based company active in Nutrition, Health and Sustainable Living. DSM's purpose is to create brighter lives for all. DSM addresses with its products and solutions some of the world's biggest challenges while simultaneously creating economic, environmental and societal value for all its stakeholders - customers, employees, shareholders, and society at large. DSM delivers innovative solutions for human nutrition, animal nutrition, personal care and aroma, medical devices, green products and applications, and new mobility and connectivity.

 

DSM and its associated companies deliver annual net sales of about €10 billion with approximately 23,000 employees. The company was founded in 1902 and is listed on Euronext Amsterdam.  More information can be found at www.dsm.com.

 

 

Fieldfisher

 

Fieldfisher is an enterprising European law firm built around people. It has market-leading practices in four key sectors of energy and natural resources, technology, financial services and life sciences.

 

Its network spans over 1500 people across 25 international offices, all of which offer clients highly commercial, pragmatic advice.

 

Fieldfisher was named as a highly commended firm in the European FT Innovative Lawyers Awards 2019. More information can be found at www.fieldfisher.com

 

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