SEATTLE, April 22, 2013 /PRNewswire/ -- Plandai Biotechnology, Inc. (OTCQB: PLPL), a producer of highly bioavailable plant extracts, today announced that it has entered into a license agreement with Phyto Nutricare PLC, a UK company, which will oversee all aspects of developing and marketing Phytofare™ extracts for nutraceutical applications.
Under the terms of the agreement, Phyto Nutricare will pay Plandai a one-time license fee of two million dollars (US$2,000,000) and then a recurring payment equal to five percent (5%) of future profits from Phytofare™ product sales. Sales of Phytofare™ are expected to commence in Q4 of 2013.
Plandai Chief Executive Officer, Roger Duffield commented, "Our foremost goal over the short term is to bring Phytofare™ products to market and begin generating revenues. Phyto Nutricare is tasked with introducing our products to market in the nutraceutical arena, which covers supplements, food and drink additives, cosmetics, healthcare, and related fields. This is a multi-billion dollar industry that has heretofore been plagued by ingredients that suffer from a lack of bioavailability. Botanical extracts are especially prevalent in everything from skin cream to energy drinks. Unfortunately, the way other suppliers produce their extracts results in products that have very little active antioxidant properties and virtually no ability to be absorbed by human tissues."
"Phytofare™, in contrast," explained Mr. Duffield, "is made from living plant material, so we capture the antioxidants while still active. We then are able to re-arrange the molecular structure of the catechins and reduce them to nano-particle size, resulting in a product that is vastly more absorbable by human cells. This maximizes the effectiveness of the benefits of green tea and will allow product manufacturers to fina
|SOURCE Plandai Biotechnology, Inc.|
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