Result of AGM
RNS & Investor News
Distribution Agreement for SlimBiome® in Thailand
14 May 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 Primo Trading Co., Ltd ("Primo") to exclusively distribute and commercialise OptiBiotix´s SlimBiome® and SlimBiome® containing ingredients in Thailand.
The agreement grants Primo exclusive distribution in Thailand in return for meeting annual sales targets to maintain exclusivity. Primo´s commitment to purchase a minimum of 500kg in the first 12 months rising to 5,000kg in the third year, reflects its confidence in SlimBiome® from its pre-launch sales forecasts and includes a 100kg initial purchase order on signing this agreement. Primo is a national distributor of specialised food ingredients to a broad range of manufacturers in the nutraceutical, pharmaceutical and supplement industries based on strong customer relationships.
This agreement follows on from the recent FSSAI approval gained by OptiBiotix´s partner, Zeon Life Sciences, for the manufacturing of SlimBiome® and SlimBiome® containing ingredients in India to supply the Asian markets (RNS: 11 April 2019).
Thailand is experiencing an obesity wave with one in three men and 40% of women now classified obese. The country is now the second heaviest in Asia after Malaysia, mainly as a result of increasing fast food outlets and high sugar usage throughout the food industry.
Christina Wood, Sales & Marketing Director, commented: "We are pleased to announce this exclusive distribution deal and sales order with such a well-established national distributor of high-quality ingredients in Thailand. Achieving FSSAI approval for the manufacturing of SlimBiome® in India enables us to reach and service the increasing demand from the Asian countries as part of our expanding commercialisation strategy. The growing obesity crisis has opened up an opportunity in these markets for SlimBiome® where food supplements and functional holistic products are readily accepted. The value gained from our industry awards, clinical studies and recent medical device approval has given our products clear differentiation over other weight loss products. The team at Primo have already identified key areas for SlimBiome® and are in the process of formulating SlimBiome® containing products to meet local tastes."
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.
OptiBiotix Health secures significant exclusive licence agreement for OptiBiome
Stephen O'Hara | 01 Apr 2020