OptiBiotix Signs LP-LDL Product Development Deal With New Zealand Firm

LONDON (Alliance News) - OptiBiotix Health PLC said Monday it has agreed to develop and supply ...

Alliance News 17 July, 2017 | 11:59AM
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LONDON (Alliance News) - OptiBiotix Health PLC said Monday it has agreed to develop and supply three products using its LP-LDL bacterial strain to New Zealand-based firm Pharmabiota NZ Ltd.

LPLDL is a naturally-occurring lactobacillus plantarum bacterial strain found in the human intestine, selected by OptiBiotix for use in cholesterol reduction.

OptoBiotix said the agreement has a minimum initial purchase of 10,000 boxes of each of the developed products which will contain LPLDL in differing dosages. Pharmabiota will provide the products via its retail pharmacy partner network in New Zealand and Australia.

OptoBiotix said the deal offers initial "moderate" levels of income, growing to six figures in the second year and a commitment of 10% annual growth. It is also the firm's first business-to-business move outside of Europe.

"We see this as another step in the company's strategy of building multiple revenue streams from LPLDL ingredient supply (from our profit share with Sacco), and as a component in high value white label and branded formulations, across a range of national pharmacy and large consumer health international partners," said Stephen O'Hara, chief executive of OptiBiotix.

"This is a low risk, low cost approach, to accessing multiple consumer healthcare and pharmaceutical markets around the world," added O'Hara.

Shares in OptiBiotix were down 0.2% at 62.00 pence Monday.

By Adam Clark; adamclark@alliancenews.com

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
OptiBiotix Health PLC 72.50 GBX 0.00 -
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