CholBiome® agreement for Greece and Cyprus

RNS Number : 1203I

OptiBiotix Health PLC

22 November 2018

 

OptiBiotix Health plc

("OptiBiotix")

CholBiome® agreement for Greece and Cyprus

OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high

cholesterol and diabetes, announces it has entered into a three year distribution agreement with an established and recognised company ("The Company") to exclusively distribute and commercialise OptiBiotix's own label CholBiome® products containing its cholesterol and blood pressure reducing LP_LDL® strain, in Greece and Cyprus.

The Company is a rapidly growing firm with an established distribution network in Cyprus, Greece and the Middle East with a track record in new product promotion and market development in pharmaceutical and foods supplement distribution directly to pharmacies. The Company is associated with a number of international clinics, providing biological medicine therapies to individuals across the world.

The agreement grants the Company exclusive distribution in return for local product registration and three year's sales targets to retain exclusivity. This agreement covers the CholBiome^® range and follows our recent launch online in the UK and the announcement on 26 September 2018 of a CholBiome^® distribution agreement for Bulgaria. It is in line with our strategy to expand sales of OptiBiotix's own label CholBiome^® products into the European market.

CholBiome^® products containing LP_LDL® have a unique ability to reduce both cholesterol and blood pressure providing a clinically proven natural product to help reduce these cardiovascular risk factors.

The Company requires its identity and the terms of the agreement to remain confidential to protect its commercial interests and launch plans therefore no further details can be disclosed. A further announcement will be made in due course.

Per Rehné, Commercial Director of OptiBiotix, commented: "We are pleased to announce this agreement which extends the sales of our CholBiome® products into Cyprus and Greece. We chose the Company for its market access in Cyprus and Greece and solid track record for growing product sales. This agreement is a strategic step to build the distribution sales channel for CholBiome® products in the European market and eliminates intermediates in the supply chain with shorter route to market and higher value to OptiBiotix. The Company has already placed an initial order to be used for pre-marketing activities and we expect further orders to support a consumer launch in Q1 2019."

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: [phone]
Liam Murray / Jo Turner
finnCap (Broker)		Tel: [phone]
Geoff Nash/ Scott Mathieson / Kate Bannatyne (Corporate Finance)
Camille Gochez (Corporate Broking)
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Anna Dunphy		Mob: [phone]

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 program 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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