Amphion Innovations PLC WellGen Finalises License Agreement (5640N)

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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: [phone] 
 Charlie Morgan 
 
 Panmure Gordon Limited (Nominated Adviser and                       Tel: [phone] 
  Corporate Broker)                                                                 2500 
 Emma Earl / Freddy Crossley (Corporate Finance) 
 Charlie Leigh-Pemberton (Corporate Broking) 
 
 Northland Capital Partners Limited (Joint Corporate                 Tel: [phone] 
  Broker)                                                                           6625 
 David Hignell (Corporate Finance) 
 Rob Rees (Corporate Broking) 
 
 Walbrook PR                          Tel: [phone] or [e-mail] 
 Anna Dunphy / Paul McManus                       Mob: [phone] 
                                                                                 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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January 21, 2019 02:00 ET (07:00 GMT)