OptiBiotix Health plc (LON:OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol and diabetes, announced today its audited results for the year ended 30 November 2016.
The Company has made significant progress during this period, with early revenues and a promising development pipeline.
Highlights
· Successful fundraising of £1m from the placing of 1,282,051 new ordinary shares at 78p
· A substantive increase in IP portfolio which now covers 50 patents across 15 families, 8 strain registrations, and 16 trademarks
· Joint venture agreement with the University of Manchester in skin health, creating a majority owned SkinBiotix Ltd (renamed SkinBiotherapeutics plc)
· Key commercial agreements signed with KSF Acquisition UK (Slimfast) and Royal DSM (leading supplier of nutritional ingredients)
· Successful launch and sales of Slimbiome® in GoFigure® shakes and bars; Creation of majority owned joint venture agreement with The Healthy Weight Loss Company
· A significant scientific breakthrough in demonstrating the ability to change the microbiome in a very targeted way, and enhance a health benefit, in the case of our own cholesterol reducing strain LPLDL, leading to a threefold increase in the strains ability to lower cholesterol
Post-period end highlights
· Joint product agreement signed with Tata Chemicals Ltd
· Key Board positions made, with the appointments of a Commercial Director and a Sales & Marketing Director
· The successful admission of its majority owned subsidiary, SkinBiotherapeutics plc, to AIM in April 2017
· European manufacturing, supply and profit sharing agreement with Sacco S.r.l.
Stephen O’Hara, CEO of OptiBiotix Health Plc, commented: “The company has made significant progress in the last year in building the infrastructure and team to support the transition from a technology company, to a product company, with early revenues and a developing pipeline of products across all its platforms. We are delighted with the excellent reviews following the launch of GoFigure® products containing our SlimBiome® formulation. This has led to a growing customer base, early sales, and attracted interest from Tata Chemicals Ltd in developing products for the Asian market. We hope to build on this early success with the launch of our LPLDL® cholesterol reducing product in May of this year. Finally, we are pleased with the successful admission of SkinBiotherapeutics plc to AIM in April 2017, representing a substantial return on our initial investment. I would like to thank our investors for their support, and look forward to an exciting and rewarding 2017.”
