Amphion Innovations PLC WellGen Finalises License Agreement (5640N)
January 21 2019 - 1:00AM
UK Regulatory
TIDMAMP
RNS Number : 5640N
Amphion Innovations PLC
21 January 2019
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 Tel: +44 (0)20 7886
Corporate Broker) 2500
Emma Earl / Freddy Crossley (Corporate Finance)
Charlie Leigh-Pemberton (Corporate Broking)
Northland Capital Partners Limited (Joint Corporate Tel: +44 (0)20 3861
Broker) 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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