A small Wellington company is hoping to go big in the United States after laboratory tests showed its herbal extract completely reduces inflammation commonly associated with arthritis.
Promisia Integrative makes a herbal supplement called Arthrem, from sweet wormwood plants sourced in Tanzania, and is used to treat joint inflammation and arthritis.
The company says tests conducted on rat cells in laboratory conditions found the extract completely inhibited the production of the most common type of inflammation.
Company chief executive Charles Daily says the laboratory results were better than expected and he's hoping they will help to kickstart the first sales in the United States by the end of the year.
Mr Daily says Promisia has just been given ethical approval to start clinical trials on patients, which will be run by Otago University.
Promisia is currently hoping to raise $2.8 million from its 1000 shareholders though a share purchase plan that closes next week.
The money will be used to fund the clinical trials and marketing of its product.
The company is not yet profitable. It lost $561,488 in calendar year 2013.
