WellGen Finalises License Agreement
Updated : 07:03
Amphion Innovations plc
("Amphion" or "the Company")
Amphion Partner Company, WellGen, Finalises License Agreement
London and New York, 21 January 2019 - Amphion Innovations plc (AIM: AMP), the developer of medical, life science, and technology businesses, announces that, further to the update provided in the Company's results announcement on 26 June 2018, its Partner company WellGen Inc. ("WellGen") has signed a license agreement (the "Agreement") with Sportables LLC and One11 Innovation, Missouri-based beverage companies. Under the terms of the Agreement, WellGen will receive 11% of the profits derived from the commercial development and sale of Workout Tea, a novel functional beverage based on a patented and clinically proven anti-inflammatory ingredient derived from a black tea extract.
The market for such products has been expanding rapidly in recent years and WellGen believes there is a place for a black tea-based beverage whose anti-inflammatory properties have been clinically proven. WellGen's proprietary Black Tea Extract is scientifically derived and the clinical trials demonstrated improved performance and recovery benefits such as a reduction in muscle soreness and reduced recovery time. WorkOut Tea is currently available in select stores in the US in a number of flavours.
Amphion has a 27 per cent. equity interest in WellGen.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information please contact:
Amphion Innovations | Tel: +1 (212) 210 6224 | |
Charlie Morgan | ||
Panmure Gordon Limited (Nominated Adviser and Corporate Broker) | Tel: +44 (0)20 7886 2500 | |
Emma Earl / Freddy Crossley (Corporate Finance) | ||
Charlie Leigh-Pemberton (Corporate Broking) | ||
Northland Capital Partners Limited (Joint Corporate Broker) | Tel: +44 (0)20 3861 6625 | |
David Hignell (Corporate Finance) | ||
Rob Rees (Corporate Broking) | ||
Walbrook PR | Tel: +44 (0)20 7933 8780 or amphion@walbrookpr.com | |
Anna Dunphy / Paul McManus | Mob: +44 (0)7879 741 001 / +44 (0)7980 541 893 | |
About Amphion Innovations plc - www.amphionplc.com
Amphion Innovations is a developer of medical, life science and technology businesses. We use our extensive experience in company building to invest and build shareholder value in high growth companies in the US and UK. Amphion has significant shareholding in a small number of Partner Companies developing proven technologies targeting substantial commercial marketplaces. The Amphion model has been refined to optimise the commercialisation of patents and other intellectual property within the Partner Companies.
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