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Manufacturing, supply and profit sharing agreement with Maxum Foods Pty Ltd.
12 August 2019
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skin care, announces it has entered into a manufacturing, supply and distribution agreement with Maxum Foods Pty Ltd ("Maxum"). The agreement grants Maxum an exclusive license to manufacture, supply and distribute OptiBiotix's SlimBiome® weight management technology in Australia and New Zealand.
Founded in 2003, Maxum is an Australia-based dairy supplier headquartered in Brisbane and operating a dry blending facility in Melbourne, as well as distribution centres throughout Australia and New Zealand. Maxum has been named one of Australia's fastest-growing SMEs on the 2018 Smart50 list with a turnover of AUS$150.7 million in 2018 and a 110% growth between 2016 and 2018.
SlimBiome®, an award winning weight management product, will be supplied by Maxum as a specialised functional ingredient, into a wide range of applications including, but not limited to, human nutrition comprising food and beverages, dairy, dietary supplements and sports nutrition.
This is another strategic step by OptiBiotix to derisk its supply chain and extend the market reach of SlimBiome® by adding manufacturing in Australia. Partnering with an established distributor that services over 950 customers and to whom it sells approximately 35,000 metric tonnes of dairy per year, will extend the commercial opportunity for OptiBiotix's patented award winning weight management product into the Australian weight management market which is estimated to be worth AUS$320 million in 2019 (source: ibisworld.com.au).
Dr. Fred Narbel, Managing Director of OptiBiotix's prebiotics division, commented: "We are pleased to announce the signing of a manufacturing and supply agreement with Maxum. We chose Maxum due to their knowledge of the Australian and New Zealand markets as well as their experience in distributing specialty ingredients like SlimBiome® and their reputation for supplying high-quality products to the food industry. We believe working with Maxum, and similar partners around the world, provides the best opportunity of increasing our global commercial reach and catering to the growing interest we are seeing in SlimBiome® from partners worldwide."
Dustin Boughton, Director of Maxum stated: "We are excited to be working with OptiBiotix in Australia and New Zealand. Our logistical and technical expertise and access to distribution channels within these markets means this is a natural fit for both companies. The manufacturing and supply of SlimBiome® is aligned with our goal of bringing innovative and high quality products to our customers."
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 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