LONDON (ShareCast) - (Sharecast News) - Life sciences company OptiBiotix Health has entered into a contract manufacturing agreement with Fipros in Denmark, it announced on Thursday.
The AIM-traded firm described Fipros as a contract manufacturer, established in 1992, with operations in Sweden and Denmark.

It said the terms of the agreement granted Fipros the rights to use OptiBiotix's intellectual property to manufacture 'SlimBiome' under licence.

The board described the deal as "another strategic step" to de-risk its supply chain in case of a hard Brexit, as the agreement created a source of supply located within the European Union, supporting the commercial launch of SlimBiome in both Poland and Germany, as per announcements made in December.

"We are very pleased to work with Fipros to manufacture SlimBiome within the European Union," said managing director of prebiotics, Fred Narbel.

"The agreement is key as it helps us lower the cost of trade, support our existing and future European distributors and build contingency in the supply chain which is a key requirement from large commercial partners who do not want to be single-sourced.

"In addition, Fipros has a Certification and Accreditation Administration of the People's Republic of China (CNCA) registration, thus enabling us to fast track future possible exports to China," Dr Narbel added.

At 1317 BST, shares in OptiBiotix Health were up 6.64% at 46.92p.

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