Distribution agreement with Ravenswood for SlimBiome®
RNS & Investor News
29 August 2023
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skincare, announces that further to the recent overview of its SweetBiotix® product range announced on 19 July 2023, the Company provides an overview of commercial progress of its first-generation products range.
The Company reports an update on commercial activities in 2023 to date:-
- The Company achieved its highest ever own brand online sales in July 2023. Online sales growth has been helped by an improved website, checkout and logistics leading to a 450% increase in the online conversion rate (number of sales divided by number of visitors to site), and the opening up of new online channels such as Amazon. We now have listings of SlimBiome® Medical and Gofigure® products on Amazon UK and Amazon Prime, Slimbiome® Medical on Amazon Germany (to be followed by Amazon Prime) and Walmart USA. We are going through the extensive process of listing products on Amazon India, Amazon UAE, and Amazon USA as part of the online internationalisation of our own brand products and investment in marketing to support further sales growth.
- One of our partners has secured an international listing for products containing SlimBiome® with Costco, the fifth largest retailer in the world. Discussions are ongoing to determine launch plans in a number of territories around the world. Further details will be provided as products are launched in different countries.
- The Company has received a large initial order from a new partner of £116K for SlimBiome® from a contract manufacturer of a leading weight management and sports nutrition brand in the USA. The company plans to launch in Europe in 2023 followed by a 2024 launch in the USA. Launch plans have high commercial sensitivity and further information will be provided when approved by the partner.
- We have signed agreements with four new partners in Asia for SlimBiome® since April who have all placed orders. These include Nasol Pharma International (Vietnam), Bonanaza Neutra Thailand), Colorinda Chemtra (Indonesia), and NexusWise (Malaysia and Singapore). These are all well-known specialist distributors in their field of expertise and are reporting strong interest in SlimBiome.
- The Company launched its health and wellbeing WellBiome® functional fibre and mineral blend in May 2023 as part of a strategy to enhance its range of product offerings. The product has received excellent reviews on Amazon with growing month on month sales (125% increase July to August) and a high number of repeat orders (63% in August). As we move into the Autumn we will increase our marketing on WellBiome® and extend its availability to other Amazon international channels.
Stephen O’Hara, CEO of OptiBiotix Health plc said: “We are making good progress on our aims of getting existing partners returning to forecast, bringing in new partners, particularly in the USA and Asia, and expanding e-commerce channels to grow online sales and reduce partner dependency. This is all part of plans for each business unit (USA, India, Ecommerce, B2B) to reach operational profitability, at least on a monthly basis by the end of the calendar year.
“The aim for the second half of the year is to continue our focus on managing costs, growing sales and closing out ongoing discussion with a number of larger partners across first and second generation products to ensure a return on investment from our expansion in our commercial and business development team.”
This announcement contains information which, prior to its disclosure, was considered inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.
For further information, please contact:
|OptiBiotix Health plc||www.optibiotix.com|
|Neil Davidson, Chairman||Contact via Walbrook below|
|Stephen O'Hara, Chief Executive|
|Cairn Financial Advisers LLP (NOMAD)||Tel: 020 7213 0880|
|Liam Murray / Jo Turner / Ludovico Lazzaretti|
|Peterhouse Capital Limited (Broker)||Tel: 020 7220 9797|
|Duncan Vasey / Lucy Williams|
|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 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.
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