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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Optibiotix Health Plc | LSE:OPTI | London | Ordinary Share | GB00BP0RTP38 | ORD 2P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.75 | -3.57% | 20.25 | 20.00 | 20.50 | 21.50 | 20.25 | 21.00 | 353,566 | 11:52:41 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Noncomml Resh Organizations | 457k | 2.59M | 0.0284 | 7.31 | 18.92M |
TIDMOPTI
RNS Number : 6336Z
OptiBiotix Health PLC
04 September 2018
OptiBiotix Health plc
("OptiBiotix")
OptiBiotix signs US pharmaceutical deal
for its cholesterol reducing Lactobacillus plantarum strain
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high
cholesterol and diabetes, announces that it has entered into an agreement with a US company ("The Company") for the use of its cholesterol reducing Lactobacillus plantarum strain as a pharmaceutical drug product.
The agreement grants The Company an exclusive license in return for it taking responsibility for all development, pre-clinical and human clinical testing, regulatory filings and approvals, product manufacture, marketing, and product sales in the US Therapeutics market. OptiBiotix will be responsible for the manufacture of its Lactobacillus plantarum strain to pharmaceutical drug standards. The Company has an option, conditional on certain development milestones and further payments, to obtain a worldwide license (excluding India and Pakistan) under the same conditions.
OptiBiotix will receive a six figure payment from The Company at signing and at two subsequent conditional milestones, amounts totalling a seven-figure sum. An additional six-figure sum, plus royalties on future product sales, are due on product launch. There is an additional seven-figure payment should The Company decide to exercise its option at any point.
The Company requires its identity and the terms of the agreement to remain confidential to protect its commercial interests and no further details can be disclosed. Further announcement will be made in due course.
Stephen O'Hara, CEO of OptiBiotix, commented: "We are pleased to announce this agreement which extends the opportunities provided by OptiBiotix's cholesterol reducing Lactobacillus plantarum strain into the high value pharmaceutical drug market. The agreement allows our US partner to develop our strain as a pharmaceutical drug product in return for upfront, development and product launch milestones payments, plus royalties on future product sales. This is a substantive investment by our US partner which recognises the potential of our strain and the scale of the opportunity in one of the largest and fastest growing markets around the world."
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 finnCap (Broker) Tel: 020 7220 0500 Geoff Nash/ Scott Mathieson / Kate Bannatyne (Corporate Finance) Camille Gochez (Corporate Broking) Walbrook PR Ltd Tel: 020 7933 8780 or optibiotix@walbrookpr.com Anna Dunphy Mob: 07876 741 001 Lianne Cawthorne Mob: 07584 391 303
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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
September 04, 2018 02:00 ET (06:00 GMT)
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