Result of AGM
RNS & Investor News
Exclusive distribution agreement with United Italian Trading Corporation (Pte) Ltd
06 October 2020
Exclusive rights to CholBiomeX3 in Singapore
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skincare, announces that its wholly-owned subsidiary, ProBiotix Health Ltd ("ProBiotix"), has entered into an exclusive distribution agreement with United Italian Trading Corporation (Pte) Ltd ("UITC") to distribute OptiBiotix's cholesterol reducing product, CholBiomeX3, in Singapore.
UITC (https://uitc.com.sg) is an established pharmaceutical and medical device marketing and distribution company founded in Singapore in 1963. UITC distributes pharmaceutical and medical products to a wide variety of clients that include hospitals, polyclinics, medical specialists clinics, family physician clinics, and pharmacies. As an established marketing distribution agency, UITC delivers complete and integrated marketing and distribution services in the healthcare sector. Their core strength is their ability to introduce proven innovative products into the market by working with key opinion leaders, organising user experience clinical trials and selling into major hospitals and clinics.
UITC has agreed to place an order for 5,000 boxes of CholBiomeX3 for delivery by the end of 2020 and increasing annual minimum order quantities to retain exclusivity.
This agreement is another example of the increasing number of pharmaceutical companies commercialising CholBiome® products into the high value GP, hospital and pharmacy markets.
Mikkel Hvid-Hansen, Commercial Director of ProBiotix Health commented: "We are pleased to have signed an agreement with UITC to distribute CholBiomeX3 in Singapore. This follows on from a recent agreement (RNS: 28 September 2020) we signed with UITC for SlimBiome Medical. LPLDL® containing products, like CholBiomeX3, which have peer-reviewed scientific publications and clinical studies are increasingly attracting the interest of pharmaceutical companies who commercialise products in the high value hospital GP, and pharmaceutical markets where science and clinical studies are valued. As the gap between drugs and probiotics developed using more rigourous scientific and clinical approaches narrows, we can see these so called next-generation probiotics, increasingly being seen as mainstream treatment options."
Dexter Fung, Deputy Managing Director at UITC, commented: "At UITC, we are proud to partner with ProBiotix Health to introduce CholBiomeX3 in Singapore. As cardiovascular disease remains the number one cause of fatality in Singapore, we feel that the unique mechanism of action of CholBiomeX3 will meet the need of improving overall cardiovascular health safely and effectively. This will be our main mission and objective of this collaboration. We look forward to a long and successful partnership with ProBiotix Health."
For further information, please contact:
|OptiBiotix Health plc||www.optibiotix.com|
|Stephen O'Hara, Chief Executive||Contact via Walbrook below|
|finnCap (Broker)||Tel: 020 7220 0500|
|Geoff Nash / Kate Bannatyne (Corporate Finance)|
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