Launch of weight management products in Australia and New Zealand
RNS & Investor News
29 April 2019
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol and diabetes, announces its audited results for the year ended 30 November 2018.
The Company has made strong progress during this period as it continues its transition from a development company into a commercial business. This period has seen the Company sign a number of commercial deals of increasing value across its product range as it builds multiple revenue streams from manufacturing, application and distribution partners across the world.
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- A 543% increase in income from H1 to H2 and a 169% increase on 2017 income of £191k
- Completion of five successful human taste studies on SweetBiotix® demonstrating high sweetness and low off flavours
- A five year agreement with Akums Drugs and Pharmaceuticals Ltd to exclusively manufacture and supply supplements and biotherapeutic drug products containing LPLDL® in India
- A non-exclusive license with one of the world's largest providers of dairy products to explore the potential for using OptiBiotix's SweetBiotix® technology to reduce the sugar content in a range of its dairy food products
- Exclusive agreement with a US company for the development of LPLDL® as a drug product with a six figure milestone payments at signing and at two subsequent conditional milestones, amounts totalling a seven-figure sum
- Award for SlimBiome® for Weight Management Ingredient of the Year at Vitafoods 2018 and 'Best Functional Ingredient for Health and Wellbeing' at Food Matters
- Award for best scientific abstract at ProBiota 2018 co-authored with DSM for the identification and development of a prebiotic which selectively enhances the growth of Lactobacillus rhamnosus GG ("LGG®") in the gut
- Independent human studies by Oxford Brookes University demonstrating that volunteers who took SlimBiome® compared to a placebo feel fuller and are less hungry, have less food cravings, and eat less sweet and fatty foods
- The granting of medical device status and a CE mark for SlimBiome® extending its application as a food ingredient into high value medical products within consumer healthcare and pharmaceutical markets
- The investment in OptiBiotix of £450k by new non-executive board members Neil Davidson and Sean Christie
Post period end highlights
- Manufacturing, supply and profit sharing agreement for SlimBiome® in India
- Appointment of Frédéric Narbel as Managing Director of OptiBiotix's prebiotic division
- LPLDL® determined GRAS by an Expert Panel in the United States
- Licence from the Food Standards and Safety Authority India for SlimBiome® to be manufactured in India
- OptiBiotix's wholly owned subsidiary ProBiotix Health Ltd raise of £1.025 million through the issue of convertible loan notes to fund a potential initial public offering
Stephen O'Hara, CEO of OptiBiotix, commented: "OptiBiotix has made significant progress in the last 12 months signing 18 commercial agreements making a total of 28 agreements since launching products in May 2017. OptiBiotix's products are now being commercialised as food ingredients, medical devices, drug biotherapeutics and supplements in around thirty countries across the world. Importantly, these agreements are starting to generate income with revenue growth in the second half of the year significantly higher than at the start of the year. As existing deals contribute to full year revenues, partners continue to grow sales with new product launches in 2019, and as new agreements continue to be signed we anticipate further revenue growth in 2019. On behalf of the Board I would like to thank our shareholders for their continued support and we look forward to an exciting future commercialising our products in a market forecast to become one of the world's fastest growth areas."
This announcement contains information which, prior to its disclosure, was considered inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR).
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