OptiBiotix Health plc (LON:OPTI), a life sciences business developing products to tackle obesity, high cholesterol and diabetes, announces that it has entered into a joint development agreement (the “Agreement”) with a multinational. The Agreement allows for the development of food and Over The Counter (“OTC”) products containing OptiBiotix’s SlimBiome® technology for the Asian market.
CEO Stephen OHara talks to DirectorsTalk about its agreement with the multinational and provides an update on other potential commercial progress.
The multinational is a major supplier of nutritional solutions to the food, beverage, nutraceutical and pharmaceutical industries within Asia, and increasingly across global markets.
The aim of the Agreement is to develop weight management products containing SlimBiome® technology in a range of foods and OTC products which, if successful, will be launched into the Asian market in the second half of 2017. The Company requires its identity and commercial details to remain confidential and no further details can be disclosed at this time.
Discussions are ongoing and it is hoped a further announcement can be made in due course.
Stephen O’Hara, CEO of OptiBiotix Health plc, commented: “We are pleased to announce the signing of this Agreement with a multinational which creates the opportunity to launch products containing OptiBiotix’s SlimBiome® into the Asian market next year. The multinational is a leading supplier of food ingredients with many well-known and respected brands and a multibillion dollar turnover. With India (30m) and China (46m) ranked second and third in having the highest number of overweight people in the world we hope that OptiBiotix’s strong science base together with our partner’s local knowledge, reputation, and sales and distribution capability will bring the benefits of SlimBiome® technology to a wider audience.”