OptiBiotix Health PLC SlImBiome® Medical agreement for Greece and Cyprus (2850J)
December 04 2018 - 2:00AM
UK Regulatory
TIDMOPTI
RNS Number : 2850J
OptiBiotix Health PLC
04 December 2018
OptiBiotix Health plc
("OptiBiotix")
SlImBiome(R) Medical agreement for Greece and Cyprus
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(R) 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(R) 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(R) 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(R)
. 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(R) 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 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
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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