RNS & Investor News
Extension of term and territories for SlimBiome®, SlimBiome® Medical and GoFigure®
28 January 2020
Existing agreements with CTC Holding BV and Cambridge Commodities Limited
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skincare, announces it has extended the terms and territories of its original distribution agreements with CTC Holding BV ("CTC Group") as announced on 1 October 2018, and Cambridge Commodities (as announced on 24 April 2018) covering the distribution of SlimBiome®, SlimBiome® Medical and GoFigure®. The details of the agreements are as follows:-
- Extend the product range from the distribution of SlimBiome® to include SlimBiome® Medical and GoFigure®
- Extend the number of territories with non-exclusive distribution rights from the Philippines, Vietnam, Indonesia and Colombia to include the Dominican Republic and Guatemala
- The agreement is for an initial period of 18 months with renewal linked to sales targets
- Provide exclusive distribution rights for SlimBiome® in the United Kingdom
- Extend the territory to include Ireland
- The agreement is for an initial period of 24 months with renewal linked to sales targets
Dr. Fred Narbel, Managing Director of OptiBiotix's prebiotics division, commented: "We are pleased to announce the extension of terms and territory for CTC Group and Cambridge Commodities. These agreements recognise the success of both these partners in building sales of SlimBiome® and extends terms and territory to support further sale growth, supported by minimum sales targets. This is another step in extending the geographical reach of SlimBiome® as it builds recurring revenue streams and brand recognition across the world."
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
Contact via Walbrook below
|Cairn Financial Advisers LLP (NOMAD)||Tel: 020 7213 0880|
|Liam Murray / Jo Turner / Ludovico Lazzaretti|
|finnCap (Broker)||Tel: 020 7220 0500|
|Geoff Nash / Kate Bannatyne (Corporate Finance)
Camille Gochez (Corporate Broking)
|goetzpartners securities Limited||Tel: 0203 859 7725|
|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 20 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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