RNS & Investor News

SlimBiome® Medical agreement for Greece and Cyprus

04 December 2018

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 CE marked medical device, SlimBiome® Medical, in Greece and Cyprus.

The Company has an established distribution network in Cyprus, Greece and the Middle East and a track record in taking new products to market direct to pharmacies through its established distribution network. The Company is associated with a number of private clinics providing therapies to individuals across the world.

The agreement grants the Company exclusive distribution in Greece and Cyprus and first right of refusal for the Gulf States in return for meeting annual sales targets to retain exclusivity. This agreement follows on from the announcement that SlimBiome® was granted medical device status and a CE mark (RNS: 27 November 2018) and the appointment of Nutrilinea S.R.L as a manufacturer (RNS: 29 November 2018). SlimBiome® Medical is clinically proven in a number of clinical studies to promote weight loss and will be sold as 30 single dose sachets to pharmacies and clinics in Greece and Cyprus.

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.

Stephen OHara, Chief Executive of OptiBiotix, commented: "We are pleased to announce this exclusive distribution deal so soon after achieving medical device registration and CE mark for SlimBiome®. Even more encouraging is that the Company has placed an early order and expects to make further orders to support a consumer launch in early 2019. We are delighted at the high level of interest we have received in SlimBiome® from an industry which recognises the value of protective patents and trademarks, two industry awards, clinical studies demonstrating safety and efficacy, and now a medical device registration and CE mark. These all provide clear differentiation from other weight loss products increasing the likelihood of commercial success. We hope we can continue to convert this interest into substantial revenues in the months and years ahead as we build the sales network for SlimBiome Medical across Europe and beyond."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

For further information, please contact:

OptiBiotix Health Plc
Stephen O'Hara, Chief Executive
www.optibiotix.com
Contact via Walbrook below
   
Cairn Financial Advisers LLP
Liam Murray / Jo Turner
Tel: 020 7213 0880
   
finnCap (Broker)
Geoff Nash / Scott Mathieson / Kate Bannatyne (Corporate Finance)
Camille Gochez (Corporate Broking)
Tel: 020 7220 0500
   
Walbrook PR Ltd
Anna Dunphy
Tel: 020 7933 8780 or optibiotix@walbrookpr.com
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 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.