v2 Report - Additional Information Supplement
BLT BLIS Technologies Limited
Press releases
| BLIS Technologies Limited
BLT 21 Sep, 2007, 09:39RIGHT BLIS Technologies Ltd - RIGHTS ISSUE |
| BLIS Technologies Ltd - RIGHTS
ISSUE 21 September, 2007 The Directors of BLIS Technologies Ltd (NZX:BLT) wish to confirm further details of its proposed renounceable rights issue announced at the Company's Annual General Meeting in August. BLIS intends to raise up to $3 million before the end of this calendar year to: - further expand the company's activities in selected international markets - strengthen BLIS's current intellectual property position and file additional patent applications - further improve its safety and efficacy data to assist with applications for regulatory approval in specific international markets; - expand facilities within Dunedin to undertake increased commercial activity, including the option of small scale production activities; - to establish a small pilot-scale facility to assist scale-up and further develop the company's know-how and product development capability. The Rights Issue will require the approval of shareholders. It is proposed that a notice of meeting containing full details of the issue will be sent to shareholders in mid October for a meeting in early November. Subject to shareholder approval the investment statement for the issue will be sent out immediately following the shareholder meeting. Rights trading is anticipated to commence shortly afterwards and run through to early December when the issue will close. YOUR CONTACTS Dr Barry Richardson Chief Executive BLIS Technologies Ltd Phone +64 (3) 479 5337 +64 (21) 664 742 barry.richardson@blis.co.nz Dr Peter Fennessy Chairman BLIS Technologies Ltd Phone +64 (27) 2265 418 |
BLIS Technologies Ltd and Nestlé Nutrition broaden work on`Probiotics for infant nutrition products
Dunedin (New Zealand) and Vevey (Switzerland), 21 September 2007 – New Zealand biotechnology company BLIS Technologies and Nestlé Nutrition, a unit of Nestlé SA, have agreed to broaden their research and development collaboration announced on 28 March 2007. The focus of the research and development continues to be upper respiratory tract infections in infants.
Upper respiratory tract infections are very common in infants and there are no effective methods of preventing or reducing the risk of these infections. The most common treatment today is the use of antibiotics and this is a leading cause for the growing issue of antibiotic resistance. Nestlé Nutrition and BLIS Technologies firmly believe that probiotics – beneficial bacteria which occur naturally in the upper respiratory tract and which have “built-in” defences against pathogenic or disease causing bacteria – offer an exciting option for the prevention upper respiratory tract infections. Nestlé Nutrition and BLIS Technologies will therefore broaden their research to include probiotics other than BLIS K12 which formed the basis of the initial agreement.
Under the terms of the agreement, Nestlé Nutrition will fund a research program to be carried out by BLIS Technologies. BLIS Technologies will be responsible for screening for suitable probiotics in its collection. Nestlé Nutrition will be responsible for product formulation and clinical studies. Nestlé Nutrition will commercialise the probiotics under licence as part of its range of infant nutrition products.
For BLIS Technologies, this agreement is an additional major step and recognition for the progress made to date. If the project proceeds according to plan, Nestlé Nutrition will commit significant resources to this probiotic development over the next three years.
The collaboration with BLIS Technologies is part of the Nestlé Nutrition commitment to invest in cutting-edge science that can enable it to launch innovative products and services which provide consumers with clear and tangible benefits.
About BLIS Technologies
BLIS Technologies Ltd was formed in June 2000 to pursue the
commercialisation of probiotics which produce natural antibacterial
peptides or proteins (bacteriocin-like inhibitory substances), hence the
company’s name, that are able to kill or control the growth of other
closely related bacteria. The company was listed on the New Zealand Stock
Exchange in July 2001. The company has acquired the rights to the
collection of an extensive range of BLIS producing organisms and is
developing and commercializing new products for use in the prevention and
treatment of undesirable bacterial infections which includes prevention
and control of tooth and gum disease, ear and throat infections,
additionally BLIS Technologies Ltd is exploring applications in skin care,
woman’s health and veterinary medicine.
About Nestle Nutrition
Nestlé Nutrition is an autonomous business within the Nestlé group which
manages and develops the group's specialty nutrition brands. Through
science-based nutrition products and services, Nestlé Nutrition helps
enhance the quality of people’s lives by supporting health and providing
care for specific consumer groups with special nutrition needs at every
stage of life.
About 22 000 employees in more than 100 countries are part of Nestlé Nutrition. Its product portfolio – covering infant nutrition, healthcare nutrition, performance nutrition and weight management – includes such trusted and well-recognised brands as: NAN, GERBER, LACTOGEN, NESLAC, CERELAC, BOOST, NUTREN, PEPTAMEN, RESOURCE, OPTIFAST, POWERBAR, MUSASHI and JENNY CRAIG. More information at: www.nestlenutrition.com.
YOUR CONTACTS
BLIS Technologies Ltd
Dr Barry Richardson
PO Box 56
87 St David Street
Dunedin
New Zealand
Phone +64 (3) 479 5337
+64 (21) 664 742
Barry.richardson@blis.co.nz
info@blis.co.nz
Nestlé SA
François-Xavier Perroud
Tel: +41 21 924 259
Web: www.nestlenutrition.com
Chairman's report
CHAIRMAN'S ADDRESS BLIS Technologies Ltd
01 August 2007
BLIS Technologies AGM
Addressing the Annual Meeting of BLIS Technologies Ltd in Dunedin, the Chairman, Peter Fennessy, stated that the loss of $964K for the year to 31 March was disappointing. While revenue increased by 18% and costs were reduced. However the last few months had seen significant progress under a new strategy.
Mr Fennessy outlined the key feature of the new strategy adopted during
2006 - this is a focus on international partnerships with major
companies with established marketing and consumer relationships. Dr
Barry Richardson, who was appointed as Chief Executive in August 2006,
is a key to the successful implementation of this strategy. He has
considerable international business to business marketing experience
from his time in the dairy industry. While new product development is
an important component of the new strategy, the Company's resources do
not allow a major focus on marketing of consumer products. Hence the
Company's direct involvement in the local market has been reduced, and
Pharmabroker took over the NZ marketing in May.
The first major deal under the new strategy is the research and
licensing agreement with Nestle. Mr Fennessy announced that BLIS had
signed a letter of intent with DSM Nutritionals, a major international
player in the nutritional ingredients market. The letter defines the
basis for negotiation around a licensing and R&D agreement.
Dr Richardson addressed the meeting providing a comprehensive outline of
the strategy, and updated shareholders on the current situation and the
prospects. The Company has continued to progress its patent strategy,
and in the current financial year, this will require significant
investment. However a robust Intellectual Property position is a key
component of the BLIS strategy on the international scene. The IP has
been fundamental to the agreements with DSM and Nestle.
The Company has placed 16.9 million shares privately during the last 15
months to raise $1.3 mn; of these, 4 million shares were placed with
interests associated with Dr Richardson.
BLIS Technologies requires new capital to further progress the new
strategy. As previously stated, the Company is seeking an international
partner to take up equity in BLIS. Assuming that the arrangements for
such a placement are secured, the Directors will then seek shareholder
approval for the transaction.
The Directors will also seek approval from shareholders in August for a
rights issue to existing shareholders.
The priority for the Company is to achieve profitability through the
development of key international partnerships. The Directors consider
that the new strategic focus on international partnerships has generated
good progress over the past 12 months. The objective is to take the
Company to a new level with further such partnerships in order to secure
further investment to enable the Company to capitalise on the excellent
science on which the Company was founded, and on the product-related
expertise that BLIS Technologies has developed over the past few years.
Contact Details:
Chairman
Peter Fennessy 027 226 5418
Chief Executive
Barry Richardson 021 664 742
Director's Report
