OptiBiotix Health signs North American distribution agreement for LPLDL
By Iain Gilbert
Date: Monday 17 Feb 2020
(Sharecast News) - Life sciences business OptiBiotix Health has inked a distribution agreement with Advanced NutriSolutions/Select Ingredient for the exclusive sale of its patented probiotic strain LPLDL in the United States and Canada.
Under the terms of the agreement, Advanced NutriSolutions/Select Ingredient will supply OptiBiotix's cholesterol and blood pressure-reducing probiotic strain Lactobacillus Plantarum LPLDL, made by the group's wholly-owned subsidiary ProBiotix, to customers in the United States and Canada for inclusion into dietary supplement formulation.
The AIM-listed group highlighted that market exclusivity was linked to a six month time to first order and sales volumes.
Chief executive Steve Prescott said: "Advanced NutriSolutions Inc/Select Ingredient was chosen as our partner in this important region because of their technical expertise in functional ingredients including probiotics, their industry reputation, and their manufacturing capabilities which allows them not only to sell LPLDL as an ingredient but to also create custom formulation and products for customers."
As of 1120 GMT, OptiBiotix shares were up 1.40% at 65.40p.
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