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Extension of terms for WellBiome® with Agropur MSI, LLC
23 July 2020
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 of its original manufacturing, supply and profit sharing agreement with Agropur MSI, LLC ("Agropur") as announced on 24 June 2019.
The agreement builds on the commercial launch of SlimBiome® to the North Amercian market as announced on 31 January 2020 and first deliveries to customers in the territory as announced on 4 May 2020. It extends the product range from the manufacturing and distribution of SlimBiome® to include WellBiome®. The territories remain unchanged with manufacturing and distribution rights in the USA, Canada and Mexico.
WellBiome® is a proprietary blend of prebiotic functional fibres, functional dietary fibres and mineral optimised for health and wellbeing by promoting the diversity of the gut microbiome. The functional ingredient was launched at the end of June 2020 (RNS: 29 June 2020) in response to commercial partners expressing strong interest for an ingredient that would expand the commercial opportunity beyond slimming and provide a solution to the Health & Wellness industry, a market estimated to be worth US$4.2 trillion in 2019.
Mike Homewood, Vice-President of Customs Solutions at Agropur, commented: "We are happy to have OptiBiotix once again show their confidence in Agropur to manufacture and market another impressive and innovative gut health product
to health and wellness brands across North America."
Dr. Fred Narbel, Managing Director of OptiBiotix's prebiotics division, commented: "We are pleased to announce the extension of terms for Agropur. This agreement recognises Agropur's success in building sales of SlimBiome® with first deliveries in the territory in Q2 2020 through Smart for Life, Inc. as announced on 4 May 2020. The agreement extends terms to support further sales growth and is a third commercial step (RNS: 6 July 2020 and 14 July 2020) in bringing our new functional ingredient WellBiome® to global markets and building brand awareness. This is an important agreement as it will help OptiBiotix access a wider range of customers in North America, a market where the understanding of the microbiome is gaining momentum."
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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.
The agreement builds on the commercial launch of SlimBiome® to the North Amercian market as announced on 31 January 2020 and first deliveries to customers in the territory as announced on 4 May 2020. It extends the product range from the manufacturing and distribution of SlimBiome® to include WellBiome®. The territories remain unchanged with manufacturing and distribution rights in the USA, Canada and Mexico.
WellBiome® is a proprietary blend of prebiotic functional fibres, functional dietary fibres and mineral optimised for health and wellbeing by promoting the diversity of the gut microbiome. The functional ingredient was launched at the end of June 2020 (RNS: 29 June 2020) in response to commercial partners expressing strong interest for an ingredient that would expand the commercial opportunity beyond slimming and provide a solution to the Health & Wellness industry, a market estimated to be worth US$4.2 trillion in 2019.
Mike Homewood, Vice-President of Customs Solutions at Agropur, commented: "We are happy to have OptiBiotix once again show their confidence in Agropur to manufacture and market another impressive and innovative gut health product
to health and wellness brands across North America."
Dr. Fred Narbel, Managing Director of OptiBiotix's prebiotics division, commented: "We are pleased to announce the extension of terms for Agropur. This agreement recognises Agropur's success in building sales of SlimBiome® with first deliveries in the territory in Q2 2020 through Smart for Life, Inc. as announced on 4 May 2020. The agreement extends terms to support further sales growth and is a third commercial step (RNS: 6 July 2020 and 14 July 2020) in bringing our new functional ingredient WellBiome® to global markets and building brand awareness. This is an important agreement as it will help OptiBiotix access a wider range of customers in North America, a market where the understanding of the microbiome is gaining momentum."
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: 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) | |
| Walbrook PR Ltd | Mob: 07876 741 001 |
| Anna Dunphy | |
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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