Result of AGM
RNS & Investor News
SlimBiome® Medical agreement for Bulgaria
09 April 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 an established and recognised company ("The Company") to exclusively distribute and commercialise OptiBiotix's CE marked medical device, SlimBiome® Medical (SlimBiome®), in Bulgaria.
The Company has an established track record of taking new products to market directly through pharmacies and wholesalers, via its a distribution network in Bulgaria.
The agreement grants the Company exclusive distribution in Bulgaria in return for meeting annual sales targets to retain exclusivity. This agreement follows on from the announcement that SlimBiome® was granted medical device status and a CE mark (RNS: 27 November 2018) and the appointment of Nutrilinea S.R.L as a manufacturer (RNS: 29 November 2018). SlimBiome® is clinically proven in a number of clinical studies to promote weight loss and will be sold as 30 single dose sachets to pharmacies and wholesalers in Bulgaria.
The Company requires its identity and the terms of the agreement to remain confidential to protect its commercial interests and launch plans, therefore no further details can be disclosed. A further announcement will be made in due course.
Fred Narbel, Managing Director of the Prebiotics division, commented: "We are pleased to announce this exclusive distribution deal after achieving medical device registration and CE mark for SlimBiome® in 2018. Even more encouraging is that the Company expects to place an early order to support a consumer launch in the near future. We are delighted at the high level of interest we have received in SlimBiome® from an industry which recognises the value of protective patents and trademarks, two industry awards, clinical studies demonstrating safety and efficacy, and now a medical device registration and CE mark. These all provide clear differentiation from other weight loss products increasing the likelihood of commercial success. We hope we can continue to convert this interest into substantial revenues in the months and years ahead as we build the sales network for SlimBiome® across Europe and beyond."
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 programme 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