License and supply agreement with Genuine Health
RNS & Investor News
Extension of terms for WellBiome with Maxum Foods
30 July 2020
OptiBiotix Health plc (AIM:OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skincare, announces it has extended the terms of its original manufacturing, supply and profit sharing agreement with Maxum Foods Pty Ltd ("Maxum Foods") as announced on 12 August 2019.
The agreement extends the product range from the manufacturing and distribution of SlimBiome® and OptiBiome® to include WellBiome®. The territories remain unchanged with distribution rights in Australia and New-Zealand.
WellBiome® is a proprietary blend of prebiotic functional fibres, functional dietary fibres and mineral optimised for health and wellbeing by promoting the diversity of the gut microbiome. The functional ingredient was launched at the end of June 2020 (RNS: 29 June 2020) in response to commercial partners expressing strong interest for an ingredient that would expand the commercial opportunity beyond slimming and provide a solution to the Health & Wellness industry, a market estimated to be worth US$4.2 trillion in 2019.
Edwin Lloyd, General Manager at Maxum Foods, commented: "We are excited to add this product to our range. There has been significant interest and discussion in the Australian and New Zealand markets around gut health and its impact on overall body health. We see WellBiome® as an ideal functional ingredient in developing healthy snacks and growing this market."
Dr. Fred Narbel, Managing Director of OptiBiotix's prebiotics division, commented: "We are pleased to announce the extension of terms for Maxum. This agreement recognises Maxum's success in building sales of SlimBiome® and OptiBiome® in the territory with the signature of an exclusive license agreement for OptiBiome® with one of Australia's largest weight management company's as announced on 31 March 2020. The agreement extends terms to support further sales growth and is a fourth commercial step (RNS: 6 July 2020; 14 July 2020 and 23 July 2020) in bringing our new functional ingredient WellBiome® to global markets and building brand awareness."
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)|
|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 programme working with leading academics in the development of microbial strains, compounds, and formulations which are used as active ingredients and supplements. More than 20 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