License and supply agreement with Genuine Health
RNS & Investor News
Distribution agreement for cholesterol reducing CholBiome®
09 January 2019
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 SilvEXPO Ltd. ("SilvExpo") to distribute and commercialise OptiBiotix's own label CholBiome® products containing its cholesterol and blood pressure reducing LPLDL® strain in Russia and Kazakhstan.
SilvExpo is an emerging company in the pharmaceutical and nutraceutical industry, which has been working on transforming fresh ideas and technologies into next generation products since its inception. SilvExpo was setup following ten years of scientific work, focusing on the export of high quality next generation food supplements to partners in a wide range of countries including Singapore, Armenia, Vietnam, Korea, Malaysia, Bulgaria, France, Russia and Kazakhstan. Based on the company's experience in Russia and Kazakhstan, LPLDL® containing product CholBiomeX3® was chosen as the first product from ProBiotix Health to be offered and introduced into the chain of pharmacies in these countries.
The agreement grants SilvExpo non-exclusive distribution rights for CholBiome® and extends the sales channel of the CholBiome® range of products into the largest Eastern European markets for probiotics. The Russian probiotics market alone is estimated at €340 million with a 10% annual growth (Euromonitor). This is another step in OptiBiotix's strategy to expand sales of CholBiome® own label products into a growing number of international markets. Russia and Kazakhstan have some of the highest mortality rates in Eastern Europe caused by cardiovascular disease accounting for up to 56% 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.
Per Rehné, Commercial Director of OptiBiotix, commented: "We are pleased to announce this agreement which extends the sales channel of our CholBiome® products into Russia and Kazakhstan where cardiovascular disease are the leading cause of morbidity and mortality. We chose SilvExpo for its knowledge and speed to market and they have shown the ability to grow product sales in challenging markets. This agreement is a strategic step to build the distribution sales channel for CholBiome® products in Eastern Europe and we anticipate that the agreement could produce revenues quickly."
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)
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.
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Stephen O'Hara | 01 Apr 2020