Result of AGM
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Further sales expansion in Asia
06 July 2021
New Exclusive Distribution deal for CholBiome® in South Korea
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 a exclusive disbution deal with INSCOBEE INC ("Inscobee") for CholBiome® in the Republic of Korea.
Inscobee was established in 1970 and is listed on Korea's major stock market KOSPI since 1985. Its business activities consist of four fast growing business fields: the Smart grid, Mobile Virtual Network Operation, Cosmetics, and Bio-Tech, which includes its pharmaceutical, neutraceuticals, and supplement products with distribution in domestic and overseas markets. Inscobee's group turover was 57.8 billion Korean Won (USD 52.2m) last year and they are curently focused on expanding the health supplement area of their business.
Inscobee sell and promote nutraceuticals through hospitals and a consumer distribution base through Korean off-line channels such as Holland & Barrett stores, hypermarkets, home-shopping, and e-commerce channels including on-line malls, open markets, influencer markets and live commerce markets.
This agreement with Inscobee is another milestone in a series of deals which ProBiotix have entered into within Asia which help build LP LDL® and CholBiome's reputation and brand awareness in the region and open up the potentail for cross boarder e-commerce trading in China. ProBiotix Health has substantial momentum in the region, according to a recent article published in Nutraingredient Asia: Probiotics and CVD: OptiBiotix extends CholBiome range to APAC as blood pressure and cholesterol concerns rise (nutraingredients-asia.com).
Mr. Mikkel Hvid-Hansen, Commercial Director of ProBiotix Health commened: "Incobee is the ideal partner in the fast moving, highly dynamic and competitive South Korean health food markets where consumers seek innovative and effective natural solutions which stand out in the market. We welcome Inscobee into a global team of CholBiome® distributors serving medical doctors and cardiovascular specialists and directly to consumers via homeshopping, pharmacies and medical clinics. By entering deals on CholBiome® and LP LDL® in India, China, Malaysia, Singapore, Indonesia, Phillipines, Taiwan, Australia, and New Zealand, ProBiotix is growing sales and developing a brand presence in these strategically important Asian growth markets."
Mr. Seung-Hyeon Nam, Director of Inscobee Plc, commented: "At Inscobee, we are very pleased to introduce CholBiome® products to the Korean healthcare market. We believe CholBiome® has great potential to fill the void of safe and beneficial cardiovascular health needs in the nation and expect that it will play a big role as a flaghship product of Inscobee's healthcare business. We look forward to a long and successful partnership with ProBiotix Health."
For further information, please contact:
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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