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Distribution agreement for cholesterol reducing CholBiome®
26 September 2018
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol and diabetes announces it has entered into a three year distribution agreement with a leading Bulgarian company ("the Company") to exclusively distribute and commercialise OptiBiotix's own label CholBiome® products containing its cholesterol and blood pressure reducing LPLDL® strain in Bulgaria.
The Company is one of the leading pharmaceutical and foods supplement distribution companies in Bulgaria with access to more than 60% of the pharmacies in the country and engaging with more than 15,000 GPs, cardiologists and pharmacists. The agreement grants the Company exclusive distribution in return for local product registration and three year sales targets to retain exclusivity.
This agreement is the first covering the CholBiome® range following our recent launch online in the UK and is the first step in our strategy to expand OptiBiotix's sales of CholBiome® own label products into the European market. Bulgaria has some of the highest mortality rates in Europe caused by cardiovascular disease accounting for up to 64% of all deaths (WHO). CholBiome® products containing LPLDL® have a unique ability to reduce both cholesterol and blood pressure providing a clinically proven natural product to help reduce these cardiovascular risk factors in countries with a high prevalence of these conditions.
The Company requires its identity and the terms of the agreement to remain confidential to protect its commercial interests and no further details can be disclosed. Further announcement will be made in due course.
Per Rehné, Commercial Director of OptiBiotix, commented: "We are pleased to announce this agreement which extends the sales of our CholBiome® products into Bulgaria where cardiovascular disease are significant causes of morbidity and mortality. We chose the Company for its significant market access in Bulgaria and solid track record for growing product sales. This agreement is a strategic step to build the distribution sales channel for CholBiome® products in the European market and eliminates intermediates in the supply chain with shorter route to market and higher value to OptiBiotix. We expect such agreements to be delivering earlier on revenues and that we would see the first sales in Q1 of 2019."
For further information, please contact:
|OptiBiotix Health Plc
Stephen O'Hara, Chief Executive
Contact via Walbrook below
|Cairn Financial Advisers LLP
Liam Murray / Jo Turner
|Tel: 020 7213 0880|
Geoff Nash/ Scott Mathieson / Kate Bannatyne (Corporate Finance)
Camille Gochez (Corporate Broking)
|Tel: 020 7220 0500|
|Walbrook PR Ltd
|Tel: 020 7933 8780 or [email protected]
Mob: 07876 741 001
About OptiBiotix - www.optibiotix.com
OptiBiotix Health plc (AIM: OPTI), which was formed in March 2012, brings science to the development of compounds which modify the human microbiome - the collective genome of the microbes in the body - in order to prevent and manage human disease and promote wellness.
OptiBiotix has an extensive R&D program working with leading academics in the development of microbial strains, compounds, and formulations which are used as active ingredients and supplements. More than twenty international food and healthcare supplement companies have signed agreements with OptiBiotix to incorporate their human microbiome modulators into a wide range of food products and drinks.
OptiBiotix is also developing its own range of consumer supplements and health products. The Company's current areas of focus include obesity, cardiovascular health, and diabetes.
OptiBiotix Health secures significant exclusive licence agreement for OptiBiome
Stephen O'Hara | 01 Apr 2020