OptiBiotix Health PLC Joint Product Agreement with multinational (6270R)

TIDMOPTI

RNS Number : 6270R

OptiBiotix Health PLC

13 December 2016

OptiBiotix Health plc

("OptiBiotix" or "the Company")

Joint Product Agreement with multinational

OptiBiotix Health plc (AIM: OPTI), a life sciences business developing products to tackle obesity, high cholesterol and diabetes, announces that it has entered into a joint development agreement (the "Agreement") with a multinational. The Agreement allows for the development of food and Over The Counter ("OTC") products containing OptiBiotix's SlimBiome(R) technology for the Asian market.

The multinational is a major supplier of nutritional solutions to the food, beverage, nutraceutical and pharmaceutical industries within Asia, and increasingly across global markets.

The aim of the Agreement is to develop weight management products containing SlimBiome(R) technology in a range of foods and OTC products which, if successful, will be launched into the Asian market in the second half of 2017.

The Company requires its identity and commercial details to remain confidential and no further details can be disclosed at this time.

Discussions are ongoing and it is hoped a further announcement can be made in due course.

Stephen O'Hara, CEO of OptiBiotix, commented: "We are pleased to announce the signing of this Agreement with a multinational which creates the opportunity to launch products containing OptiBiotix's SlimBiome(R) into the Asian market next year. The multinational is a leading supplier of food ingredients with many well-known and respected brands and a multibillion dollar turnover. With India (30m) and China (46m) ranked second and third in having the highest number of overweight people in the world we hope that OptiBiotix's strong science base together with our partner's local knowledge, reputation, and sales and distribution capability will bring the benefits of SlimBiome(R) technology to a wider audience."

For further information, please contact:

 
 OptiBiotix Health plc                                                  www.optibiotix.com 
 Stephen O'Hara, Chief Executive                                      Contact via Walbrook 
                                                                                     below 
 
 Cairn Financial Advisers LLP                                                Tel: [phone] 
                                                                                      0880 
 Liam Murray 
 
 finnCap Broker                                                              Tel: [phone] 
                                                                                      0500 
 Adrian Hargrave / Scott Mathieson 
  / Kate Bannatyne (Corporate Finance) 
 Tony Quirke (Corporate Broking) 
 
 Walbrook PR Ltd                           Tel: [phone] or [e-mail] 
 Anna Dunphy                                                                Mob: [phone] 
                                                                                       001 
 
 

About OptiBiotix - www.optibiotix.com

OptiBiotix was formed in March 2012 to develop compounds which modify the human microbiome - the collective genome of the microbes in the body - to prevent and manage human disease.

The aim of OptiBiotix is to discover and develop microbial strains, compounds and formulations, which modulate the human microbiome and can be used as food ingredients and supplements or active compounds for the prevention and management of human metabolic diseases, examples of which include obesity, cholesterol and lipid distribution and diabetes.

OptiBiotix has established a pipeline of microbiome modulators that can impact on lipid and cholesterol management, energy harvest and appetite suppression. The development pipeline is fuelled by its proprietary OptiScreen(R) and OptiBiotic(R) platform technologies designed to identify metabolic pathways and compounds that impact on human physiology and bring potential health benefits. These platforms are applicable across a wider range of other human diseases.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 13, 2016 02:00 ET (07:00 GMT)