Phytopharm initiates Stage 3 of its Hoodia extract deal with Unilever

LONDON (Thomson Financial) - Phytopharm PLC said it has commenced the Stage 3 activities of its joint development agreement for Hoodia extract, its weight management product, with Unilever.

The pharmaceutical development and functional food company said the Stage 3 activities include supply chain expansion and further safety studies which will lead to consumer studies aimed at evaluating reductions in calorie intake as part of a weight management programme.

Under the terms of the agreement, Phytopharm will continue to receive reimbursement of further development costs together with an undisclosed royalty on sales of all products containing the extract.

Daryl Rees, Chief Executive said of Phytopharm said: 'We look forward to generating royalty income from our partner's globally recognised brands in the near future on product launch
Source:HEMSCOTT.COM