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Resveratrol player faces bankruptcy if omega-3 funding switch fails: Chairman

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By Shane Starling+

02-Oct-2012
Last updated on 03-Oct-2012 at 15:49 GMT

Global resveratrol player Fluxome has 8-12 weeks to raise millions of euros to fund a research switch to omega-3, or face bankruptcy, its chairman told NutraIngredients this morning.

Jarne Elleholm said, contrary to rumours, the company had not filed for bankruptcy although it faced a serious “funding crisis” that could end that way if one of 3-4 potential investors did not back its planned shift into omega-3s sourced from yeast.

“We are speaking with 3-4 interested parties including industry players and capital funds and expect to have a clear picture on how to move forward in 8-12 weeks,” Elleholm said, noting the figure required was in the seven-figure range.

If the funding failed to eventuate, the company – both its Danish and US operations – faced bankruptcy unless a buy-out partner arose or funding could be found internally.

In the meantime Fluxome filed for “formal reconstruction” in Danish courts last week which again is expected to take 8-12 weeks to resolve. 

Its Danish office is closed while the reconstruction takes place, but Elleholm emphasised that resveratrol supply in the US was "business as usual". 

Elleholm said the resveratrol business was moving steadily ahead in the US, but obviously its performance is not strong enough to have averted the current dilemmas for the company.

“There is an issue and we are managing it in an appropriate way to make ends meet and get the required funding,” Elleholm said.

Fluxome is owned by venture capital firms based in Belgium, France and Denmark.

5 comments (Comments are now closed)

Why is this news?

Another poorly run company is going out of business. Why is this news? When you tie your business model to a single product that has no immediate usefulness to the average consumer you are asking for trouble.

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Posted by James
06 October 2012 | 19h05

Biotivia's dosage conclusion

Biotivia has collaborated with more research organisations on more human clinical trials than all other brands combined. We understand dosage, better I submit, than other manufacturers. Based upon the results of trials done using Bioforte and transmax at Northumbria Univ, Ottawa Hospital (A Health Canada hospital) the National Health Service in the UK, Univ. of Ferrara, Harvard, University of Bologna, the NIH, several health ministries in the EU, The Australian National Health Service (Prince Albert Hosp.) and many others, it is our informed conclusion that the appropriate chemo protective dosage for a 75kg man or woman is between 125mg and 2500mg daily.

The efficacy of RSV is certainly dose dependent and seems to follow a relatively linear progression. To suggest that a dosage of 10mg or anything under a 100mg daily is optimum is simply an uninformed and irresponsible misrepresentation of the evidence.

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Posted by James Betz
03 October 2012 | 17h48

Resveratrol dosage

We have completed a clinical trial on the effects of resveratrol on type 2 diabetes (one might be able to find this study on PubMed). From this and another ongoing study on flow-mediated vasodilation, it seems that the optimal resveratrol dosage is about 2x10 mg daily...

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Posted by Laszlo G Meszaros
03 October 2012 | 12h05

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