Distribution agreement with Ravenswood for SlimBiome®
RNS & Investor News
GoFigure® distribution agreement for Southern Africa
18 September 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 a one year exclusive distribution agreement with a South African partner ("The Partner") to distribute its own label GoFigure® consumer weight management products in South Africa and neighbouring countries.
The agreement grants The Partner the exclusive rights to import, market and distribute OptiBiotix's GoFigure® range of products containing its award-winning SlimBiome® weight management technology. This agreement has been signed accompanied by minimum order quantities to be placed within three and 12 months of signing to retain exclusivity.
The Partner wishes to remain anonymous until the official launch date of the GoFigure® brand in South Africa has been confirmed. The Partner has more than 20 years of experience in the pharmaceutical and health & wellness markets and has successfully commercialised and promoted a wide range of products to a broad network within the region, spanning the full supply chain.
Dr. Fred Narbel, Managing Director of OptiBiotix's prebiotics division, commented: "We are pleased to announce the signing of this exclusive distribution deal for the commercialisation of our GoFigure® products in South Africa and neighbouring countries (a market estimated to be worth ZAR3.8billion in 2016 source: https://pharmadynamics.co.za/sas-health-supplement-market-booming/). The agreement is another strategic step to take OptiBiotix's GoFigure® products to international markets which is important as it builds brand recognition, enhancing brand value and creates a further demand for SlimBiome®, the functional ingredient within GoFigure® products. This is an exciting second step in taking OptiBiotix's own label GoFigure® products to international markets and follows on the announcement of an earlier deal in Poland (RNS: 22 May 2019)."
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.
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