Result of AGM
RNS & Investor News
Exclusive distribution agreement with MAXCARE Inc. for SlimBiome® in Taiwan
11 May 2020
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 distribution agreement for SlimBiome® with MAXCARE Inc ("MAXCARE"). The agreement grants MAXCARE exclusive rights to commercialise OptiBiotix's SlimBiome® proprietary weight management technology in Taiwan.
MAXCARE (https://www.maxcarecorp.com) is a Taiwanese company based in Taipei founded in 2000 which specialises in clinically-supported, science based nutraceuticals, fruit and botanical extracts. MAXCARE's ingredients span a wide range of application areas with an existing distribution network and experience in commercialising weight management ingredients. Market exclusivity is linked to minimum sales targets being achieved.
MAXCARE is one of Taiwan's leading distributors for nutraceutical raw materials which offers a complete portfolio of products, technological development support and logistical services. Their distribution channels include TV shopping, chain pharmacies, drug stores and direct/multi-layer selling. They are well placed to educate customers on the benefits and functionality SlimBiome® can provide and have a team of registered dieticians to support commercialisation.
This is another strategic step by OptiBiotix to commercilise its award-winning SlimBiome® technology into new markets. The commercial aim is to develop SlimBiome® as an innovative ingredient that can be added to multiple products in different application areas incorporating science backed functionality and additional value to everyday products.
Thomas O'Hara, Business Development Manager at Optibiotix, commented: "We are pleased to have signed an agreement with MAXCARE to commercialise our award-winning weight management technology in Taiwan. We chose MAXCARE due to their experience in commercialising weight management ingredients and their understanding of the value proposition SlimBiome® provides to their customers. Having a trained team of registered dieticians that can provide technical support allows them to clearly convey the benefits and value SlimBiome® can add to a range of products.
"MAXCARE has placed an initial trial order on signing the agreement as a result of early interest received from introducing SlimBiome® to their customers. We look forward to continuing the current trajectory of SlimBiome® and increasing the countries, applications, products, revenues and overall global brand value in the months and years ahead."
Steve Wu, General Manager at MAXCARE Inc, commented: "The weight management market constitutes circa USD$2 billion value in Taiwan each year (Source: Functional Food Status Report 2018). Besides the traditional sales channels, an increasing number of weight loss clinics has also greatly driven its growth. There are abundant products that target weight loss on the market, yet very few have scientifically and clinically proven efficacies, with no side effects. SlimBiome® of OptiBiotix is a patented product, with clinical proof to improve gut microbiome, support weight lost, stabilise blood sugar and reduce cravings for food, which all lead to successful weight management. It has always been our goal to partner with companies that are capable of producing such products. MAXCARE represents a large number f nutraceutical ingredients with clinical studies, manufactured by pharmaceutical and/or major food manufacturers, and it is our great pleasure to be working with Optibiotix for the distribution of SlimBiome® in Taiwan. We are very optimistic about the prospects of SlimBiome® in this region and look forward to working with the OptiBiotix team to maximise the potential."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information, please contact:
|OptiBiotix Health plc||www.optibiotix.com|
|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