Venture Life Group plc
("Venture Life" or "the Group")
New Product Development and Board Change
Bracknell, UK - [6] August 2014: Venture Life Group plc (AIM: VLG), the international consumer self-care group focused on developing, manufacturing and commercialising products for the ageing population, announces that, as part of its longer term strategy, it will be managing its new product development activities from its recently acquired Italian subsidiary, Biokosmes, under the direct responsibility of Gianluca Braguti, the Group's Manufacturing Director. Consequently, Dr John Lucas has stepped down as Director of New Product Development and left the Group on 5 August 2014 by mutual agreement.
Commenting on the announcement, Jerry Randall, Chief Executive Officer of Venture Life, said: "On behalf of the Board I would like to thank John for his contribution to the Group and we wish him well for the future.
"Concentrating our new product development activities at Biokosmes, which has been successfully developing innovative healthcare products for over 25 years, better aligns our expertise and resources with our longer term product development strategy."
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For further information please contact:
Venture Life Group PLC
Jerry Randall, Chief Executive Officer
James Hunter, Chief Financial Officer +44 (0) 1344 742870
WG Partners (Broker)
Jonathan Gosling
Claes Spång +44 (0) 20 3693 1566
Charles Stanley Securities (Nominated Adviser)
Phil Davies +44 (0) 20 7649 6000
Square1 Consulting
David Bick
Mark Longson +44 (0) 20 7929 5599
JW Communications
Julia Wilson +44 (0) 7818 430877
Notes to editors
About Venture Life
Venture Life is an international consumer self-care company focused on developing, manufacturing and commercializing products for the ageing population. The Group's product range and pipeline currently includes food supplements for lowering cholesterol and maintaining brain function, dermo-cosmetics for addressing the signs of ageing, and medical devices for improving minor aches and pains, dry eyes and itchy skin. The products, which typically are recommended by pharmacists or healthcare practitioners, are available primarily through pharmacies supplied by the Group's international distribution partners.
Through its manufacturing company, Biokosmes, the Group also provides development and manufacturing services to companies in the medical devices and cosmetic sectors.
The Group's own branded products are currently sold or partnered in over 40 countries and currently include:
· food supplements to maintain brain function and memory;
· dermo-cosmetics for addressing the signs of skin ageing and hair loss, and
· medical devices for improving conditions such as minor aches and pains, dry eyes and itchy skin.
The Company has a healthy development pipeline including products in areas such as diabetes, cardiovascular health, obesity, cognitive function and skin ageing. Products coming from the pipeline will be expected to have intellectual property protection and be supported by independent clinical evidence of efficacy.
