License and supply agreement with Genuine Health
RNS & Investor News
GoFigure® and SlimBiome® commercial updates
06 December 2019
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skincare, announces it has entered into three new exclusive distribution agreements which seek to extend the global reach of its SlimBiome® and GoFigure® products:-
- Extensor: Extensor is OptiBiotix's exclusive partner in Poland for distributing its GoFigure® product range (RNS: 22 May 2019). OptiBiotix has signed a further agreement which grants Extensor exclusive rights to distribute SlimBiome® in Poland for a period of 12 months with continued exclusivity subject to performance review. The agreement recognises the successful launch of GoFigure products containing SlimBiome into the Polish market http://www.gofigure.pl/ and allows Extensor to extend the use of SlimBiome® into its own range and partner products.
- Epic Ingredients: The Company has signed an exclusive distribution agreement with Epic Ingredients Sdn Bhd ("Epic Ingredients") to distribute SlimBiome® in Malaysia and Singapore. Exclusivity is subject to minimum order quantities and a requirement to place a first order within 4 months of signing the agreement. Epic Ingredients was incorporated in 1998 as a pharmaceutical service company with its registered office in Malaysia. Their focus is on the distribution of active pharmaceutical ingredients (APIs), excipients and nutraceutical raw materials providing complete distribution and warehousing facilities
- Supplemed Solution Sdn Bhd: The Company has signed an exclusive distribution agreement with Supplemed Solution Sdn Bhd ("Supplemed"), a subsidiary of Epic Ingredients, to distribute OptiBiotix's own label GoFigure® consumer weight management products in Malaysia and Singapore. Exclusivity is subject to minimum order quantities and a requirement to place a first order within 4 months of signing the agreement. Supplemed is a subsidiary of Epic Ingredients which focuses on the import and distribution of nutraceuticals backed by human studies.
These agreements are another step in in extending the geographical reach and sales of both SlimBiome® and SlimBiome containing products like GoFigure. This is consistent with our strategy of increasing the number of geographies and applications SlimBiome is used in both as an ingredient, and within GoFigure own brand and partner white label brands. This builds revenues and brand recognition.
The agreements for Malaysia and Singapore arise from the publicity and interest generated from SlimBiome® Medical winning the NutraIngredients award for Best Weight Management Ingredient of the Year for Asia 2019.
Dr. Fred Narbel, Managing Director of OptiBiotix's prebiotics division, commented: "We are pleased to announce this extension of our partnership with Extensor to service the Polish market. They have proven to be a very reliable commercial partner and have recently placed a second order for GoFigure® branded products to replenish their stocks. This agreement recognises the early success of Extensor in selling GoFigure products in Poland and extends the agreement to SlimBiome as an ingredient to support further sale growth.
"We are also pleased with our partnerships with Epic Ingredients and their subsidiary Supplemed to service the Malaysian and Singaporean markets. These are important as they show the value of the awards the Company has won over the past two years. It is important to note that these three agreements are for an initial period of one year and include sales targets to retain exclusivity."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information, please contact:
|OptiBiotix Health Plc
Stephen O'Hara, Chief Executive
Contact via Walbrook below
|Cairn Financial Advisers LLP (NOMAD)||Tel: 020 7213 0880|
|Liam Murray / Jo Turner / Ludovico Lazzaretti|
|finnCap (Broker)||Tel: 020 7220 0500|
|Geoff Nash / Kate Bannatyne (Corporate Finance)
Camille Gochez (Corporate Broking)
|goetzpartners securities Limited||Tel: 0203 859 7725|
|Walbrook PR Ltd
|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 programme working with leading academics in the development of microbial strains, compounds, and formulations which are used as active ingredients and supplements. More than 20 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