Launch of weight management products in Australia and New Zealand
RNS & Investor News
23 May 2018
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol and diabetes, announces its audited results for the year ended 30 November 2017.
The Company has made strong progress during this period as it continues its transition from a development company into a commercial business. This period has seen the company sign a number of commercial deals of increasing value across its product range as it builds multiple revenue streams from manufacturing, application and distribution partners across the world.
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- Two agreements signed with Tata Chemicals - one for SlimBiome® for the Indian market, and the second to scale up and manufacture the companies cholesterol reducing prebiotic (LPGOS)
- Global profit sharing agreement signed with Sacco S.r.l. to manufacture and supply LPLDL®
- Two key Board appointments to support the commercialisation and global expansion of products.
- European launch of SlimBiome® and LPLDL® products at the Vitafoods Europe tradeshow in Geneva in May 2017
- A total of ten commercial agreements signed in the 12 month reporting period
- Award winning publications and presentations delivered at major international conferences
- Award for SlimBiome® as 'Best Functional Ingredient for Health and Wellbeing' at Food Matters
- FDA registration for LP-LDL® and SlimBiome® product ranges allowing access to the US market
- Admission of majority owned skincare subsidiary, SkinBiotherapeutics (formerly SkinBiotix), to AIM with an associated £4.5m institutional and private client fundraise in April 2017.
- Profit after tax of £1.9m reflecting an adjustment of £4.1m for the change in value of the investment in SkinBiotherapeutics following the listing
Post-period end highlights
- A US manufacturing, supply and profit sharing agreement with Cereal Ingredients, Inc for SlimBiome®
- Completion of five successful human taste studies on its SweetBiotix® demonstrating high sweetness and low off flavours
- An exclusive royalty bearing agreement with Fine Foods and Pharmaceuticals for the production and supply of five formulations containing OptiBiotix's LPLDL® strain in Europe
- A five year distribution agreement with Trigen Pharma Internation (Pvt) Ltd to exclusively distribute and commercialise OptiBiotix's own label CholBiome® products in Pakistan
- A non-exclusive distribution agreement with Cambridge Commodities Ltd to distribute SlimBiome® weight management technology in the United Kingdom
- A five year agreement with Akums Drugs and Pharmaceuticals Ltd to exclusively manufacture and supply supplements and biotherapeutic products containing LP-LDL® in India
- The appointment of Neil Davidson as Non-executive Chairman bringing sector expertise, a network of industry contacts, and over 30 years of operational and Board experience as Chairman and Chief Executive of FTSE 100, AIM and private companies.
- Award for SlimBiome® as for Weight Management Ingredient of the Year at Vitafoods 2018 'Best Functional Ingredient for Health and Wellbeing' at Food Matters
Stephen O'Hara, CEO of OptiBiotix, commented: "OptiBiotix has made significant progress in the last 12 months which has seen a growing number of awards for our science and products and an increased deal flow. We anticipate both the rate and value of deal flow increasing as we develop new applications, take existing products into new territories, and leverage our technology platforms to develop new product opportunities. We are particularly excited by the interest from partners in developing our products into biopharmaceuticals and see this as an area of significant future development and potential value uplift. The last twelve months has been an exciting period of transition for the Company with new Board appointments, ten commercial agreements, and an FDA registration for SlimBiome® and LPLDL®. We have been pleased with the progress of SkinBiotherapeutics plc, which is making strong commercial progress and preparing for human studies, which if successful, should provide a substantive uplift in valuation. On behalf of everyone at OptiBiotix Health plc, we would like to thank our investors for their continued support and look forward to an exciting future in this exciting area of science which has the potential to revolutionise the future of health care."
This announcement contains information which, prior to its disclosure, was considered inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR).
For further information, please contact:
|OptiBiotix Health Plc
Stephen O'Hara, Chief Executive
Contact via Walbrook below
|Cairn Financial Advisers LLP||Tel: 020 7213 0880|
|Liam Murray / Jo Turner|
|finnCap (Broker)||Tel: 020 7220 0500|
|Adrian Hargrave / Scott Mathieson / Kate Bannatyne (Corporate Finance)
Abigail Wayne (Corporate Broking)
|Walbrook PR Ltd
|Tel: 020 7933 8780 or [email protected]
Mob: 07876 741 001
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