OptiBiotix shares soar on new deal with OptiPharm
By Josh White
Date: Tuesday 31 Mar 2020
(Sharecast News) - Life science company OptiBiotix Health has entered into an exclusive licence agreement for the use of its 'OptiBiome' weight management ingredient, it announced on Tuesday, with OptiPharm.
The AIM-traded firm said it had registered OptiBiome as an alternative trademark to 'SlimBiome' to support the sale of the ingredient in countries in which an implied health claim could not be made, such as in Thailand.
It said the terms of the exclusive licence agreement granted OptiPharm exclusive use of the OptiBiome trademark in more than 20 markets, including Australia, parts of Asia, New Zealand, the Middle East, the Gulf states, and North America.
Market exclusivity was linked to minimum order quantities.
OptiBiotix described OptiPharm as a privately-owned Australian company currently in its 24th year of operation.
It said it specialises in weight management, nutrition and infant formula, with their products produced in "state of the art" Australian manufacturing facilities that are GMP qualified and HACCP certified.
"We are delighted to have completed negotiations with OptiBiotix for access to their patented ingredient OptiBiome for exclusive use in over 20 markets globally," said OptiPharm managing director Garry McDonald.
"In these troubling times and with clinical research identifying a link between excess weight and one's immune system, OptiPharm are continually searching for innovative ingredients such as OptiBiome, to enhance our Optislim product formulations.
"We look forward to working with OptiBiotix to deliver to our customers the latest in innovation, value and quality."
Dr Fred Narbel, managing director of OptiBiotix's prebiotics division , added that the company was "very pleased" to enter into a commercial agreement with OptiPharm to make its weight management solution available to a range of customers, through major pharmacy and supermarket retailers and online in more than 20 countries.
"We are excited to work with such a well known market leading partner who has the means to promote its products aggressively.
"This deal further expands our access to global markets and we are particularly pleased to have our functional ingredient sold by major retailers in more and more countries around the world creating value for our partners, customers and shareholders."
At 1628 BST, shares in OptiBiotix Health were up 42.86% at 47p.
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