Plentex to acquire Biovite algae health care line
October 4, 2013
righton Victoria, Australia-based Plentex Limited has entered into a non-binding Letter of Intent to acquire the Biovite business from Biovite Australia. Biovite focuses on the discovery and development of a bioactive derived from micro-algae which has applications for a variety of dermatological conditions of the nails and skin in humans.
Plentex’s current business model revolves around the identification, sourcing, and planned production and marketing of high value products that can be extracted from both micro- and macroalgae. The Biovite acquisition will form the core Plentex’s future business plan.
With the acquisition, Plentex will market its proposed product range under the Biovite brand. These include a “superfood” algae sold in powder and capsule form, a carotenoid that promotes eye health, and an algae-based omega oil.