Blis aiming to make up lost ground

Blis Technologies has signed a letter of intent with nutritional ingredients company DSM Nutritionals, chairman Peter Fennessy said.

He told shareholders at the health-related tech company's annual meeting the letter defines the basis for negotiation around a licensing and R&D agreement.

The company is focusing on international partnerships with companies with established marketing and consumer relationships after reporting a disappointing loss of $964,000 in the year to March 31.

The first major deal under the new strategy was an agreement with Nestle.

The company's direct involvement in the local market has also been reduced with Pharmabroker taking over New Zealand marketing in May.

The company has placed 16.9 million shares privately during the past 15 months to raise $1.3m but it still requires new capital and has signalled it is looking for an international partner to take up an equity position.

- NZPA